China to Lead World’s Online Retail Market in 2013, Xinhua Says
China is expected to become the world’s largest retail e-commerce market in 2013, Xinhua News Agency reported today, citing a forecast by a Ministry of Commerce official.
Chinese online shoppers spent 782.6 billion ($123 billion) yuan online last year, a gain of almost 54 percent from a year earlier, Xinhua said, quoting figures from Li Jinqi, director of the ministry’s information technology department.
There were 194 million online shoppers recorded in China at the end of last year, and the country’s total “e-business” increased 29 percent in 2011 from the year before to 5.88 trillion yuan, according to Xinhua.
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