China’s e-commerce transaction volume up 19.6% in 2021

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Beijing, Sept. 2, 2022 (Xinhua/NAN) China’s total e-commerce transaction volume went up 19.6 per cent year-on-year in 2021, a report said.

The transaction volume hit 42.3 trillion yuan (about 6.15 trillion dollars) in 2021, according to a report released by the Chinese Ministry of Commerce at the 2022 China E-commerce Convention.

The e-commerce transaction volume of goods reached 31.3 trillion yuan, while that of services came in at 11 trillion yuan in 2021, the report said.

Meanwhile, China will list 14 e-commerce industrial parks as e-commerce demonstration bases, bringing the total number to 155.

The Vice Minister of Commerce, Sheng Qiuping, said China’s e-commerce sector ranked first in the world in terms of online retail market, online shoppers, digital express delivery business and mobile payment scale.

Qiuping added that the sector had shown strong resilience since 2021 despite uncertainties.

The 2022 China E-commerce Convention is part of the ongoing 2022 China International Fair for Trade in Services.