China’s e-commerce market hit $1.2 tn

Beijing, Sep 21 (IANS) China’s e-commerce market has hit the $1.2 trillion-mark in the first half of this year despite economic losses, according to a report released on Monday.

E-commerce in the world’s second-largest economy reached $1.2 trillion in the January-June period, up 30.4 percent from a year earlier, the China E-Commerce Research Centre said in its report.

Business-to-business (B2B) was up 28.8 percent year-on-year, Xinhua news agency reported.

The online retail sales, which include business-to-consumer (B2C) and consumer-to-consumer (C2C) rose 48.7 percent.

Cross-border e-commerce reached up 42.8 percent year on year, accounting for 17.3 percent of China’s total trade volume.

As of the end of 2014, over 2.5 million people worked directly in e-commerce and more than 18 million indirectly.

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