Home / Knowledge / News / Textiles / China tops in e-commerce sales
China tops in e-commerce sales
02
Nov '15
China has surpassed the US to become the world's largest online retail market with its e-commerce grossing $439 million of revenue last year (or 7 per cent of its GDP), state-owned Global Times said quoting a report of the China Internet Network Information Centre (CNNIC).

According to the report, the internet has become a critical element of China's economic progress in the past five years. Online retail transactions reached 2.79 billion yuan ($439 million) in 2014, one of the key economic achievements of China's Internet development during the 12th Five-Year Plan period (2011-15).

According to CNNIC, there are so far 328 listed internet companies in China, whose total market cap reached 785 trillion yuan, accounting for 25.6 per cent of the country's market capitalisation. Four of them have made their way to the top 10 world Internet companies, including Alibaba.

In 2014, the number of online shoppers climbed to 361 million, representing 55.7 per cent of China's shoppers.

Online shopping represents 20 per cent of all consumer demand, the report said. For the first time mobile phones have become the most commonly-used platform to access the internet, followed by computers. Some 594 million people in China can access to the Internet through mobile phones.

The number is 86.8 per cent higher than in 2005-10.

The internet also boosted growth in related industries such as smart phones, servers, storage and internet infrastructure, the report said. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Trump signs revised free trade agreement with S Korea

Textiles | On 25th Sep 2018

Trump signs revised free trade agreement with S Korea

President Donald Trump signed a revised free trade agreement with...

L-R: Jonathan Akeroyd, Donatella Versace, John D Idol. Courtesy: Rahi Rezvani

Fashion | On 25th Sep 2018

Michael Kors to acquire Versace; to be renamed Capri

Michael Kors Holdings Limited, a global fashion luxury group, has...

'India can take up lack of capacity in US, China markets'

Textiles | On 25th Sep 2018

'India can take up lack of capacity in US, China markets'

India can now take up the lack of capacity in the US and Chinese...

Interviews View All

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Smarth Bansal, Colorjet India Limited

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search