China's e-commerce transactions exceed 4.5 trillion yuan in 2010

09:18, January 14, 2011      

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China's fast-growing e-commerce transactions hit 4.5 trillion yuan ($682.16 billion) in 2010, up 22 percent year-on-year, according to recent researches by China e-Business Research Center and CNZZ Data Center.

Of the 4.5 trillion yuan, online B2B (Business-to-Business) sector accounted for 3.8 trillion yuan ($576.05 billion), increasing by 15.8 percent year-on-year. The online retail business hit 513.1 billion yuan ($77.78 billion), a boost of 97.3 percent from the previous year.

CNZZ Data Center's report also showed that China had been home to more than 18,600 e-commerce websites by December 2010, 16.13 percent up from figures taken in the beginning of last year; and around 80 percent of the e-commerce websites newly added were in the B2C (Business-to-Customer) sphere.

China's e-commerce industry has seen a fast growth. Data from the Ministry of Commerce showed that e-commerce transaction volume in 2008 was of 3.1 trillion yuan ($469.9 billion) and 3.8 trillion yuan ($576.05 billion) in 2009.

Zhang Yanan, analyst from consulting company Zero2IPO Group, said that there is an emerging trend for traditional retailers to go online. Traditional retailers have more resources in off-line sales channels accumulated from their businesses, but they did not pay enough attention to e-commerce and now suffer from a shortage of talents specialized in online business, Zhang added.

Now as the sector double-digits every year, traditional thinkers will probably seek opportunities through mergers and acquisitions.

Source: Global Times
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