Online trade in China expected to total US$218 billion in 2007

28 March 2007

Beijing, China, 28 March – The sale of goods and services via the Internet in China is expected to rise 55 percent to US$217.9 billion in 2007, according to the official Chinese news agency.

New China, which cited estimates from a recent conference on electronic trade in the country, said that most transactions – US$216.7 billion – would be carried out between companies.

Electronic trade in China, including Business-to-Business (B2B), Business to Consumer (B2C) and Consumer to Consumer (C2C) transactions, has risen between 50 and 60 percent in the last two years.

These figures were published in a study presented by the Chinese Electronic Trade Association, a non-profit organization of the Ministry of Industry and Information.

Total online sales in China posted annual growth of 52 percent in 2006, reaching US$141 billion, according to a report from CCID Consulting.

According to the same report, 99 percent of the 42 million Chinese companies are small and medium-sized enterprises, three percent of which trade using the Internet.

Despite this rapid growth, specialists have warned that e-commerce in China is faced with the challenge of a lack of a credit system, and the lack of use of credit and debit cards. (macauhub)