China: Online Sales Increase 60%

Shopping grows in Internet’s largest market

If the trend continues, shopping online in China will increase by 60% year-over-year, according to the China e-Business Research Centre.

Last year, sales were 3.6 trillion Yuan (US$530 billion.) For the first six monts of this year, online sales have already hit 2.25 (US$331.3 billion) trillion Yuan. China now boasts over 420 million Internet users and about 130 million shop online, said the report.

Continued growth expected

Growth is set to continue with Internet sales in China likely to rise more than 35% a year on average over the next few years as more people shop online and more convenient ways of paying for transactions, such as using mobile phones, become available.