China’s online retail sales top the world for 6th year
By
Ding Yixin from People’s Daily Online
China's
online retail sales exceeded 9 trillion yuan in 2018, topping the world for the
6th year in a row, spokesperson Gao Feng said during a regular conference of
the Ministry of Commerce (MOC) on March 21.
The
country’s online retail sales maintained a high-speed growth over the past
ten-plus years, said Gao, who is also deputy director general of the General
Office of the MOC.
The
growth of online retailing is still rapid, and the sector is still an important
driving force for consumption, Gao pointed out.
In
the first two months of 2019, the online sales of physical commodities grew
19.5 percent year on year to 1.1 trillion yuan. The proportion of the online
retail sales to the total sales of consumer goods was 16.5 percent, up 1.6
percentage points from the same period last year.
The
growth rate of online sales of physical commodities was 11.3 percentage points
higher than that of the total retail sales of consumer goods, according to
Gao.
The
mode and structure of online retailing have been further optimized, the
spokesperson said.
According
to the MOC statistics, the Business to Consumer (B2C) model has seen its market
share reach 73.5 percent, up by 3.3 percentage points from the previous year.
The sector is becoming more personalized and customized.
Gao
said the slowing growth of online retail sales is in conformity with economic
development, because dividends generated by internet users are weakening when
the country’s economy is transitioning from a phase of rapid growth to a stage
of high-quality development.
He
stressed that full confidence should be kept that the online retail market will
continue growing on a healthy basis because the industry foundation, innovation
models, application of technologies and user habits have remained unchanged.
The automated
sorting system of SF Holding, a major express delivery company in China, works
at a transit center of SF in Yichang city, central China’s Hubei province,
Jan.29, 2019. Photo from People’s Daily Online
China’s online retail sales top the world for 6th year
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