Internet sales soar 60% in China
A report by the China e-Business Research Centre this week announced a 60% year on year rise in Internet sales in the first half of 2010.
While transactions totaled 3.6 trillion Yuan (US$530 billion) for the whole of last year, the first half of 2010 has already seen transactions totaling 2.25 (US$331.3 billion) trillion Yuan.
Qian Xiaoqian, Deputy Director of the State Council Information Office, said online shopping is becoming extremely popular as more people are using the service.
China now boasts over 420 million Internet users and about 130 million shop online, said the report.
Growth is set to continue with Internet sales in China likely to rise more than 35% a year on average over the next few years as more people shop online and more convenient ways of paying for transactions, such as using mobile phones, become available.
“With more third-generation networks expanding, and more and more mobile devices being made available to people, the mobile Internet will boom and create more business opportunities,” Qian predicted.