Online commerce is booming in China, and experts expect the industry to keep expanding over the next few years.
This year, the trade volume from e-business transactions is expected to surpass 4 trillion yuan (US$593.7 billion), according to the Vice Minister of the Ministry of Industry and Information Technology Yang Xueshan. More than 400 billion yuan will be spent on online shopping.
Meanwhile, the number of people with Internet access is expected to grow 59.3 percent over the next five years, to 812 million. Online commerce is expected to account for 7.2 percent of domestic growth retail sales in 2014, according to a Deutsche Bank report.
Liang Chunxiao, vice president of Alibaba Group, said about 30 percent of Chinese Internet users are participating in e-commerce. "The figure will grow to 60 percent or more after five years," Liang said.
China's business press carried the story above on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
