The Ministry of Commerce of the People’s Republic of China Department of Electronic commerce and Informatization released “E-commerce in China (2019)” on July 2, 2020. The report pointed out that in 2019, Chinese e-commerce transactions reached RMB 34.81 trillion yuan (USD $5 trillion), of which online retail sales amounted to 10.63 trillion yuan (USD $1.5 trillion), with 51,256,500 people employed in e-commerce. And here are four sets of key data:
- Online retailing has reached 20.7% of the total market
- Chinese and Western medicines, cosmetics and beverages are growing at a speed more than 30%.
- High proportion of nourishing foods in online retailing is agricultural products
- Japanese imports account for 20% cross-border e-commerce