Chinese Consumers Exceed $500 Billion in Annual B2C Purchases Online, Business and Industry Trends Analysis

China is posting phenomenal growth in e-commerce, up by 33.3% in 2015 according to the National Bureau of Statistics in China, to a total of $589.6 billion, making it the largest market in the world.  For 2015, online shopping accounted for 12.9% of all retail purchases in China.  In 2016, eMarketer forecasted $899 billion in online sales, equaling almost one-half of the world’s digital sales.  This growth is due to widely available internet access, a growing middle class, the development of Chinese e-commerce businesses such as Alibaba.com and Tencent, sophisticated payment technologies and aggressive development of fast product delivery services.…

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