China’s Online Sales to Surpass Rest of World’s

China’s Online Sales to Surpass Rest of World’s

After breaking U.S. IPO records in September, Chinese  giant Alibaba this week made U.S.$9.3 billion in sales on November 11—”Singles’ Day,” a “Cyber Monday” with Chinese characteristics—shattering the online shopping world record set by the company last year. A report from Leo Mirani at Quartz looks at predictions that Chinese e-commerce sales will pass those of the rest of the world combined by 2018:

[…] is just the beginning. Chinese e-commerce is about to get much, much bigger. By 2018 sales from e-commerce in China will exceed those in the rest of the world combined, reckons Morgan Stanley.

At the rate e-commerce is growing, it will account for one in every five renminbi spent in China by 2018.

One of the factors that helps drive rising e-commerce sales is consumer confidence. The more experience people have with online shopping, the more they spend. […] [Source]

E-commerce could do much to help spur consumption amid slowing growth in China.

Also see the New York Times’ coverage of a virtual t-shirt shop that was shut down by Alibaba for selling a shirt showing veiled support for dissident artist Ai Weiwei.

Tweets

SUPPORT CDT

Google Ads 1

CDT EBOOKS

Giving Assistant

Amazon Smile

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.