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With just six days to go till the third China Beijing International Fair For Trade In Services (CIFTIS), Jing Dong.com Inc, the largest online direct retailer in China and also the most popular plate in CIFTIS was listed on the National Association of Securities Dealers Automated Quotation (NASDAQ) in the United States, on May 22, with the symbol JD.
China's e-commerce transactions soared from 810 million yuan ($129.6 million) to 10 billion yuan from 2012 to 2013, and the CIFTIS is becoming both a champion and witness of China’s rapid development of e-commerce.
E-commerce transactions quadruple for five years
China’s e-commerce has expanded at a breathtaking pace recently. This was famously illustrated by the so-called "double eleven" shopping carnival, on November 11, or Singles Day, which was billed as a shopping spree day by Chinese online retailers in this industry.
Data showed that China’s total e-commerce transactions reached 8.1 trillion yuan in 2012, with year-on-year growth of more than 31.7 percent, while the GDP growth rate was approximately 4.1 times in that year.
In 2013, total e-commerce transactions exceeded 10 trillion yuan – a quadrupling in five years, where the amount of online shopping reached 1.85 trillion yuan in the same year, with a more than 40 percent increase.
E-commerce transactions will exceed 18 trillion yuan, while online retail transactions will exceed 3 trillion yuan in 2015, upon the rapid development of E-commerce, cloud computing and other information platforms, according to a document released by China’s cabinet.
