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E-commerce Turnover Up 22% in 2010

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E-commerce turnover in China jumped 22 percent in 2010 from a year earlier to 4.5 trillion yuan (US$681.82 billion), an industry report said on Tuesday.

Online retail sales almost doubled to 513.1 billion yuan, according to the report released by the China e-commerce research center. The report estimated that online retail sales would double to hit 1 trillion yuan in the next two years, taking up more than more than 5 percent of the nation's total retail sales.

Zhang Zhouping, an analyst with the researcher center, said the steady sales growth was due to the government's policy support for e-business, and easy access for new comers to start doing business.

(Xinhua News Agency January 19, 2011)

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