China's E-commerce Market up by 60% in Q1

23
Aug
statistics

China's eCommerce market has increased by 60% in Q1 compared to the first 6 months of 2009.

China's eCommerce market is soaring

The amount of online transactions, including B2C, B2B and C2C transactions reached 2,250 billion yuan (331 billion dollars) in Q1. In 2009, the trade volume of eCommerce in China surpassed 3.6 trillion yuan (530 billion dollars).

This growth was driven by businesses more and more numerous to open online retail shops.
 
E-commerce is becoming the backbone of China's Internet industry which is now the world's biggest online market. China's online population also recently hit 420 million, making the country the world's leader in terms of Internet users. 
 
According to the Vice Minister of Industry and Information Technology Xi Guohua, more than 142 million Chinese people have shopped online in the past 6 months, it's almost 35% of all China's online population.
 

But online security issues remain

For most online shoppers, security is the main concern. More than half of Internet users have been attacked by viruses or Trojan horses in Q1.

The Anti-Phishing Alliance of China received nearly 20,000 reports related to phishing websites by the end of July 2010. Many fake eCommerce websites were closed, including more than 4,000 fake Taobao websites.
Submitted by Thibault on Mon, 08/23/2010 - 05:02

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