Chinese exporters turn to online market
Online shopping last year saw its trade volume increase by 128.5 percent to RMB120bn (US$17.56bn), according to a recently released report.
The number of online shoppers also rose by 185 percent from a year earlier to 120 million, according to the study, jointly released by research firm iResearch and Taobao.com, an online marketplace.
China's online shopping is expected to grow rapidly in 2009 as more export enterprises turn to sales in the domestic market due to declining overseas demand, according to the report. More than 70 percent of online shoppers are from secondary and tertiary cities (below those classed as primary such as Beijing and Shanghai), which will provide most of the boost to the online shopping industry this year.
Despite the news, shares in Alibaba.com (HK:01688), China’s biggest online trading site, dropped 2.39 percent. Sea Rainbow Holding Co (SZ:000503), an online distributor of medical devices, slid 1.63 percent.
Related news
- Peninsula Energy chairman talks to Proactive Investors in Stocktube Video
- Empire Energy Group hits oil production milestone in Appalachia
- Aminex and Solo Oil to carry out further analysis on Ntorya-1 well
- Angel Biotechnology shares surge as it reveals new contracts worth total of £4.5mln
- Pan Pacific Aggregates secures £2m facility from Yorkville Advisors
- Sunrise Resources reveals high grade results from Derryginagh barite project – UPDATE
- Red Rock Resources acquires option in Kansai Mining
