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China's E-commerce to Hit 800 Million Yuan this Year
Ministry of Information Industry (MII) spokesman Cheng Guanghui predicts that China's e-commerce trade volume will reach 800 million yuan this year and perhaps as high as 10 billion yuan by 2002.
At a press conference in Beijing July 13, Cheng said that China already has more than 20 million computers and public information networks already cover most of China's cities. The backbone of the Internet - bandwidth - has already been upgraded from 10 Mb/s to 155 Mb/s and bandwidth connecting China to other countries already exceeds 700 Mb/s, which should help alleviate the bandwidth shortage problem.
He points out that China's proposed e-commerce framework structure will promote the use of e-commerce. After setting up the Government Online Project last year, the Chinese government will follow up with a Enterprise Online Project this year to encourage companies to develop e-commerce. Currently, China has already registered 34,000 business domain names, which account for 80% of China's domain names. There are more than 1000 websites devoted to e-commerce.
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