ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Economy

China's e-commerce market grew 25% in 2014

BEIJING -- Chinese consumers are embracing online shopping, even as the rest of the economy starts to slow.

     E-commerce transactions reached 13 trillion yuan ($2.08 trillion) last year, for a 25% jump, according to the Ministry of Commerce.

     The booming market is fueling fierce competition.

     Local giant Alibaba, operator of the Taobao marketplace, and No. 2 player JD.com dominate the market. But Amazon.com and other foreign rivals are mounting a charge to catch up.

     Thai conglomerate Charoen Pokphand tied up with Japanese trading house Itochu last November to branch out into China, with plans to concentrate offerings on imported Japanese goods -- popular among the expanding middle class.

     These companies see the digital marketplace growing as smartphones spread in China. They are apparently ramping up investment in developing online shopping apps.

     Chinese retail sales totaled 26.2 trillion yuan in 2014, up 12% on the year, according to the ministry.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends June 30th

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media