Retail in Asia

In Markets

China’s online trade soars 59pc

Despite an anemic economy, China’s e-commerce trade soared last year thanks to an improved Internet infrastructure and an increase in cellphone users.

The transaction value of Chinese shopping websites rose 59 percent year on year to CNY16.4 trillion (USD2.6 trillion), according to figures released on Monday by the National Bureau of Statistics.

Third-party platforms, like China’s largest shopping website Taobao.com, accounted for about 44 percent of the total, with self-operated stores taking the remainder, the bureau said.

(Source: Shanghai Daily)