Retail in Asia

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China to double e-commerce value

China is aiming to almost double the value of its e-commerce sector in two years by tapping in rural, small city and foreign markets, under an action plan published by the Ministry of Commerce on Friday.

The ministry promised measures to help e-commerce businesses make further forays into these relatively unexplored markets, as well as encouragement of cross-border trade through better coordination between online platforms and brick-and-mortar stores.

With these measures, the ministry predicted the country’s e-commerce transactions will hit CNY22 trillion (USD3.54 trillion) in 2016, almost double the CNY13.4 trillion in 2014.

(Source: Shanghai Daily)