China's eCommerce Business Could Expand 35%/Year Over Next Several Years
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According to a reporting China Daily, China's eCommerce industry is set to explode over the next few years. One top government official sees year-over-year growth in the mid-30% range.
A deputy director of the State Council Information Office in China said that eCommerce business were $530 billion in China last year.
China e-Business Research Center said in a recent report that the nation's e-commerce sales volume surged by 60 percent in the first half of the year to 2.25 trillion Yuan ($331.39 billion). Business-to-business (B2B) transactions accounted for 2.05 trillion Yuan ($301.93 billion), while business-to-consumer (B2C) and consumer-to-consumer (C2C) sales volume was around 200 billion Yuan ($29.46 billion). (Note: currency conversion in this article uses 1 Yuan = 0.147284 USD.)
Although the report says that there are 20,700 eCommerce businesses in China, big names like Amazon.com (Nasdaq: AMZN), Ctrip.com Int'l (Nasdaq: CTRP), and Sohu.com Inc. (Nasdaq: SOHU), among others, should benefit.
Also China search engine Baidu.com (Nasdaq: BIDU) could see a boost from all the added activity.
As of June, China had 420 million Internet users, with 130 million online shoppers.
A deputy director of the State Council Information Office in China said that eCommerce business were $530 billion in China last year.
China e-Business Research Center said in a recent report that the nation's e-commerce sales volume surged by 60 percent in the first half of the year to 2.25 trillion Yuan ($331.39 billion). Business-to-business (B2B) transactions accounted for 2.05 trillion Yuan ($301.93 billion), while business-to-consumer (B2C) and consumer-to-consumer (C2C) sales volume was around 200 billion Yuan ($29.46 billion). (Note: currency conversion in this article uses 1 Yuan = 0.147284 USD.)
Although the report says that there are 20,700 eCommerce businesses in China, big names like Amazon.com (Nasdaq: AMZN), Ctrip.com Int'l (Nasdaq: CTRP), and Sohu.com Inc. (Nasdaq: SOHU), among others, should benefit.
Also China search engine Baidu.com (Nasdaq: BIDU) could see a boost from all the added activity.
As of June, China had 420 million Internet users, with 130 million online shoppers.
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