China’s e-commerce turnover up 22% in 2010
E-commerce turnover in China jumped 22 percent in 2010 from a year earlier to 4.5 trillion yuan (681.82 billion U.S. dollars), an industry report said on Tuesday. Online retail sales almost doubled to 513.1 billion yuan, according to the report released by the China e-commerce research center. The report estimated that online retail sales would double to hit 1 trillion yuan in the next two years, taking up more than more than 5 percent of the nation’s total retail sales. Zhang Zhouping,...
Read MoreOnline group purchase to balloon in 2011
China’s online group purchase market is expected to reach 16.5 billion yuan ($2.45 billion) in 2011, accounting for about one percent of all online retail sales, according to a recent industry report. The sales volume of group purchases in the second half of 2010 totaled 1.79 billion yuan, with that in December alone reaching 401 million yuan, tuan800.com, a group purchase navigation site said in its report released in January, 2011. It estimated the sales volume for the whole year of...
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