News this week: Recently published research claims that the transaction volume of
China’s e-commerce industry reached US$44.5 billion in the second quarter of
2012 – a jump of 45% year-on-year.
A report published by Analysys International claims that the
consumer-focused arm of Alibaba
Group, Taobao, holds a
76% market share of China’s e-commerce industry with transaction volume
exceeding US$31.9 billion in the second quarter of this year. Trailing far behind
Alibaba were 360buy (5.5%), Tencent (4.5%), Suning (1.2%), Amazon.com
(0.8%), Dangdang (0.7%) and Yihaodian (0.3%).
In May this year,
China’s vice minister of commerce, Jiang Yaoping stated that e-commerce
represented 4% of retail sales in China in 2011, with transactions up 30% to
US$925 billion – or 12.5% of China’s GDP.
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