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Monday, 28 September 2020

NBU currency exchange rates


27 August 2012

Chinese e-commerce grew by 66% in 2011

Online sales in China last year produced a turnover of 780 billion yuan (93 billion euros), an increase of 66% over 2010.

E-commerce in China has made it possible to reduce production costs, create jobs and accelerate the transformation of the industry, according to the report published jointly by International Data Corporation (IDC) and that colossus that bestrides Chinese online business, Alibaba.

The Taobao platform, on which both traders and individual consumers can offer goods for sale, has on its own been responsible for the creation of 2.7 million jobs in 2011, according to the report. Online sales now account for 3% of total retail sales in China, a proportion expected to rise to 7% in 2015, the report predicts.

China has more than 500 million Internet users in 2012. Many sites offer cheap delivery services and the possibility of paying for items using cash on delivery.


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