Economy

China to boost web retail sales through better regulation

(Xinhua)
Updated: 2010-06-30 14:19

BEIJING - China's Ministry of Commerce (MOC) said Tuesday it would boost web retail sales in the next five years through better regulation of online sales.

To increase the share of web retail sales in China's total retail industry to five percent by 2015 from some two percent at present, measures would be taken to improve regulations and legislation concerning online transactions, said the MOC.

In some areas where electronic business already shows signs of maturing, the target was set at 10 percent, according to the statement.

The MOC also said that when the time is appropriate, China would require any person selling online to register with industrial and commercial agencies to bring them under government regulation.

Related readings:  China's retail sales up 18.7% in May  City's April retail sales rise 15.6% on economic recovery  Over 1 mln people open online stores on China's largest retail website Taobao  32% of retail sales in China done via bankcards

Further, more efforts would be taken to encourage businesses in the production, sales and services industries to develop more goods and services that fit online transactions, said the statement.

In 2009, two percent of China's retail sales were conducted on the Internet, the Chinese Academy of Social Sciences said in a report released earlier this month.

By the end of 2009, China had 384 million Internet users and more than 100 million online shoppers, according to data collected by the China Internet Network Information Center (CNNIC).