China’s e-Commerce Market Hits $1.2-T In 1-H

China’s e-Commerce market saw strong growth in 1-H of this year despite economic headwinds, according to a report released Monday.

E-commerce in the world’s second-largest economy reached CNY 7.63-T (US$1.2-T) in the January-June frame, up 30.4% from a year earlier, the China E-Commerce Research Center said in its a report.

Business-to-business (B2B) was up 28.8% Y-Y, at CNY5.8-T. The online retail sales, which include business-to-consumer (B2C) and consumer-to-consumer (C2C) rose 48.7% to CNY1.61-T.

Cross-border e-Commerce reached CNY2-T in 1-H, up 42.8% Y-Y, accounting for 17.3% of China’s total trade volume.

As of the end of Y 2014, more than 2.5-M people worked directly in e-Commerce and more than 18-M indirectly.

China and the Association of Southeast Asian Nations (ASEAN) launched a cross-border e-Commerce platform Saturday during the 12th China-ASEAN Business and Investment Summit in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region.

Representatives of ASEAN members and the secretariat of the summit signed a MOU (memorandum of understanding) on the platform to boost cross-border commercial cooperation and services.

The platform will provide information on business matching, overseas financing, logistics, customs inspections and legal advice for bi-lateral enterprises, according to the secretariat.

China and ASEAN proposed a new age of cross-border trade centered on e-Commerce last year.

Stay tuned…

HeffX-LTN

Paul Ebeling