China's e-commerce transaction volume up 19.6% in 2021

BEIJING -- China's total e-commerce transaction volume went up 19.6 percent year-on-year in 2021, a report said Thursday.

The transaction volume hit 42.3 trillion yuan ($6.15 trillion) last year, according to a report released by the Ministry of Commerce at the 2022 China E-commerce Convention.

Of the total, the e-commerce transaction volume of goods reached 31.3 trillion yuan, while that of services came in at 11 trillion yuan last year, the report said.

Meanwhile, China will list 14 e-commerce industrial parks as e-commerce demonstration bases, bringing the total number to 155.

China's e-commerce sector ranks first in the world in terms of online retail market, online shoppers, digital express delivery business and mobile payment scale, said Vice Minister of Commerce Sheng Qiuping, adding that the sector has shown strong resilience since 2021 despite uncertainties.

The 2022 China E-commerce Convention is part of the ongoing 2022 China International Fair for Trade in Services.