China's on-line transactions are expected to reach one trillion yuan this year, a sharp rise from last year's 700 billion yuan, said a report released here Tuesday.

China's e-commerce transaction volume has grown by 50-60 percent over the past couple of years and is expected to maintain fast growth for several years to come, said the report released by China Center for Information Industry Development Consulting (CCID Consulting).

The number of Chinese netizens has surpassed 110 million and more than 40 million personal computers have access to broadband. "It means China's infrastructure is ready for a boom in e-commerce," said Chi Congbing, analyst with CCID Consulting.

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