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China's e-commerce trade over 16 trln yuan in 2014

Xinhua, August 3, 2015 Adjust font size:

Despite an anemic economy, China's e-commerce trade soared in 2014 thanks to improved Internet infrastructure and an increase in cellphone users.

Transaction volume of Chinese e-commerce platforms totaled 16.39 trillion yuan (2.68 trillion U.S. dollars) in the last year, up 59.4 percent year on year, data from the National Bureau of Statistics showed on Monday.

Confronted with sluggish domestic demand, China is counting on e-commerce to lead a new wave of consumption and prop up economic growth. Endi