China Is #1 In Global Online Retail Sales
China’s online retail trade now ranks 1st in the world and the number of Internet shoppers has surpassed 360-M the China Internet Network Information Center reported today.
The Internet has been a boon to China’s economy, contributing 7% to the country’s GDP last year, said the center’s report, which reviewed the Web industry’s influence on the economy over the past 5 years.
Retail trade online more than 2X to RMB 2.79-T (US$438-B) in Y 2014, the report said, driving China past the United States as the biggest online market in the world.
Sales in the electronics industry, which includes smartphones and cloud storage services, also were driven by the Internet from Y’s 2011 to 2014, the report said.
Mobile networks have taken the place of computers as the entry point for users surfing the Web over the past 5 years. By Y 2014, China had 594-M “netizens” using mobile networks, up nearly 90% Y-Y it said.
The report also noted there are currently more than 4-M application stores, helping users to shop, search and book tickets through their mobile terminals.
By Hou Qaing
Paul Ebeling, Editor
HeffX-LTN
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