China's e-commerce boom brings shopping revolution (6)

Lee adds that the move is a stepping stone for Taobao to make the jump overseas. There is also a lot of interest in Taobao in Singapore and Malaysia, she believes.

"The most important thing in expanding to the global market is handling the logistics and payment channel properly to bring convenience to overseas customers as well as further regulating online shops," Lee says. ( Perhaps the final word on the new shopping dynamic that has developed in 2012 should be left to Jack Ma, chairman and CEO of Alibaba Group.

Named China's Economic Person of the Year by China Central Television, Ma said on accepting the honor this week that the most important thing is not whether e-commerce finally replaces traditional retail.

"What counts most is that e-commerce is now bringing revolution to the lifestyle of every Chinese," he told the audience at the awarding ceremony.

"We not only changed ourselves, but also influenced our time. In this sense, (Tmall.com and Taobao.com's Jan.-Nov. revenue of) 1 trillion yuan is just a beginning."