China’s e-commerce market, which is already the world’s largest and fastest-growing, will employ more than 50 million people, as per the 2016-2020 E-commerce Development Plan.
The growth of e-commerce will help drive innovation in several sectors including education, tourism and medical care. It will also become the main force behind the country’s economic transition, the plan mentions.
China’s online population is growing at 7.8 per cent a year from 2015 and is expected to cross 1 billion mark by 2020. This could take online retail sales to 10 trillion yuan. (RKS)
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