International Business News
China's online sales soar in nine months
Online sales in China almost doubled in the first nine months of this year, official data showed Tuesday, as the nation becomes more switched on and confident in Internet shopping.
China's enormous Internet community spent 168.9 billion yuan (25 billion dollars) through their computers in the January-September period, a 90 percent increase from the same period last year, the government data showed.
And Di Jiankai, a director-general of the commerce ministry, told reporters the total figure for the whole year was expected to exceed 260 billion yuan. He did not providing a comparative figure for 2008.
"The commerce ministry pays great attention to e-commerce," he added. "It is a very important business form we can use to boost consumption."
A report by research firm iResearch and China's top auction website Taobao shows online sales reached 120 billion yuan last year, up 128.5 percent from the previous year.
Liu Ning, a Beijing-based analyst with research firm BDA China, said the online shopping market has been growing strongly as consumers become more confident in payment security and the quality of goods sold.