Business / Industries

Information tech consumption jumps in Q1

By Gao Yuan ( Updated: 2014-04-24 15:28

Consumption of information technology in China exceeded 690 billion yuan ($110 billion) during the first quarter,

Information tech consumption jumps in Q1
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Information tech consumption jumps in Q1
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spurred by strong growth in online shopping and broadband markets, the Ministry of Industry and Information Technology said on Wednesday.

Turnover in online retail hit 557.2 billion yuan, a surge of 46 percent year on year. The sum accounted 9 percent of the nation's total retail sales, the ministry said.

"Electronic commerce is becoming a new supporting point of growth in domestic demand," said Zhang Feng, the ministry's spokesman.

Zhang also pledged to speed construction of broadband Internet networks in less-developed regions.

More than 48 million Chinese households were accessing the Web using optical fiber as of March, according to the ministry.

As China's economic growth slows, the central government turned to technology-driven sectors — such as consumer electronics, broadband Internet and e-commerce — for more robust domestic consumption, he said.

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