China Research Centre of Ecommerce has published a report showing that the country’s ecommerce trading recorded USD 2.03 trillion in the first half of 2017.
The ecommerce sector in China continues to see rapid growth on all fronts. Business-to-business transactions reached USD 1.3 trillion, while online retail sales were at USD 470 million.
Cross-border ecommerce has also seen strong growth in the first half of 2017, increasing by 30.7% year-on-year, accounting for 26.97% of China’s total ecommerce trade volume.
The boom in the sector created new investment opportunities and developments. As of the end of June 2017, more than 3.1 million people worked directly in ecommerce and more than 23 million indirectly, the report revealed.
Currently, China holds 40% of the total global ecommerce transactions. The most recent reports confirm that the country’s ecommerce sector will continue to grow with online retailers also expanding into other markets.