China's e-commerce to reach 18 trillion by 2015
Updated: 2011-11-16 17:02
By Quan Li (chinadaily.com.cn)
E-commerce transactions in China will reach 18 trillion yuan ($2.83 trillion) in 2015, tripling the trade in 2010, said Gao Xinmin, president of the Internet Society of China.
Gao Xinmin, president of the Internet Society of China makes a speech at the 2011 Cross-Straits Internet Development Forum in Beijing on Tuesday. [Photo/chinadaily.com.cn]
Speaking at the 2011 Cross-Straits Internet Development Forum in Beijing on Tuesday, Gao said the proportion of e-commerce in the Internet economy will increase during the period of 12th five year plan.
E-commerce trading was five trillion yuan in 2010, with B2B (business to business) transactions of 4.5 trillion yuan and B2C (business to customer) transactions of 500 billion yuan, Gao said. B2B trade will surge to 15 trillion yuan in 2015, and the number of online shoppers will increase from 200 million to between 500 and 600 million.
Taobao Mall (Tmall), China's largest B2C marketplace, secured orders worth 3.36 billion yuan ($519.4 million) through Alipay, an online payments platform, during a Singles Day sale on Nov 11, according to Chen Deren, director of the e-service research center of Zhejiang University.
The website sold 936 million yuan worth of goods last year on the same day, it achieved that amount in just 10 hours this year, according to the Internet giant Alibaba that runs Taobao.
China’s mainland Internet industry will remain strong in the coming years, Gao said, "and we have a great potential market to develop."
China had 485 million Internet users by the end of June, according to statistics from China Internet Network Information Center.