China to lead online market by 2013
China Daily reports.
China recorded 194 million online shoppers and 782.56 billion yuan ($123.72 billion) in online retail trade by the end of last year, says Li Jinqi, director of the information technology department of the MOC, during a conference on e-commerce held in Beijing.
According to Live Trading News, the volume marked a 53.7% rise year on year and constituted 4.32% of China's total consumer goods retail volume in 2011.
“E-commerce has brought a change in the marketing mode, and online retail is becoming a new growth engine,” says Jinqi.
According to a MOC report, China's e-business trade was worth 5.88 trillion yuan in 2011, up 29.2% from 2010 and constituting about 12.5% of China's GDP last year, People Daily writes.
The report says over 40% of China's SMEs have used e-commerce to maintain rapid growth amid a worsening external environment.
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