Moreover, China will record 14 e-commerce industrial parks as e-commerce demonstration bases, making the total number of such bases: 155, according to various Chinese media reports.

China’s e-commerce transaction volume increased by 19.6 per cent year-on-year in 2021. While the e-commerce transaction volume of goods in that period touched 31.3 trillion yuan, that of services hit 11 trillion yuan, according to a report by China’s ministry of commerce. China’s e-commerce sector ranks first in the world and has shown great flexibility.

“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 China’s vice minister of commerce Sheng Qiuping. Qiuping also noted that the country’s e-commerce sector has shown great flexibility since 2021 in spite of challenges.

The 2022 China E-commerce Convention is currently being held in Beijing, China.

Fibre2Fashion News Desk (NB)