Chinese E-Commerce Grew 31% in 2014
April 13, 2015
Online sales in China surged again last year, underlining its importance as a cross-border market. According to the China E-Commerce Research Center (CECRC), e-commerce sales in China rose 31.4 percent in 2014, up to 13.4 trillion yuan ($2.2 trillion). Of that total, B2B transactions accounted for 10 trillion yuan ($1.6 trillion), an increase of 22 percent, while B2C sales surged nearly 50 percent to 2.8 trillion yuan ($451 billion). E-commerce has become one of the major growth engines in China, according to CECRC analyst Zhang Zhouping, significantly impacting the retail, education and medicine industries.
For merchants outside of China, leveraging the incredible e-commerce growth (especially in light of the fact that there is so much more room for future growth) has become a priority. But operating in China is complex from regulatory, cultural, language, tax and payment perspectives. A special panel at the CNP Expo in May will examine the challenges and opportunities for cross-border e-commerce merchants in China. For more information or to register, visit www.CNPExpo.com .