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China e-commerce sector expands 48.3% H1 2014


New data released by China’s National Bureau of Statistics (NBS) reveals that China is currently undergoing an e-commerce retail renaissance.
 
According to figures released on Wednesday by NBS, retail sales grew 12.1% year-on-year for the period January-June. H1 2014 retail sales totaled 12.42 trillion RMB ($2.02 trillion).
 
More interesting for our subscribers is the fact that online retails sales are surging. In the first six months of 2014, the e-commerce sector expanded by 48.3% to reach 1.14 trillion RMB.
 
Major drivers for this growh include the proliferation of smart devices and the growing popularity of mobile commerce – a trend Observer Solutions identified at the beginning of 2014 as a key enabler for e-commerce growth. This holds especially true in more rural locations where broadband internet is less developed.
 
The Chinese government continues to support the ongoing development of China’s e-commerce sector. It has identified areas such as household broadband access, online shopping enablement, and mobile payment infrastructure development as major areas of focus.
 
We will undoubtedly see another record-breaking year for China’s e-commerce industry at the end of the second half.

China’s Retail Sales Growth-Jan to Jun 2014 - Observer Solutions Blog

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