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Taobao expects business to keep growing

2011-01-07 10:59
China's largest online shopping site Taobao.com said its total business-to-customer (B2C) sales quadrupled in 2010 from 2009, and the B2C business is likely to maintain such a growth rate in the following years.

Taobao's B2C business refers to its flight ticket platform and Taobao Mall, which was separated from Taobao.com with a new domain in November.

The peak of Taobao's daily sales last year reached 1.95 billion yuan, said Daniel Zhang, Taobao's chief financial officer, at a press conference on Jan 6. That was higher than total retail sales on an average day in Beijing in November, which was 1.89 billion yuan.

Taobao, with 370 million registered users by the end of last year, said average transactions of a Taobao buyer increased 35 percent last year from 2009.

The number of Internet users in China reached 450 million by the end of November, up 20.3 percent year-on-year, according to figures from the State Council Information Office.

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