Chinese e-com market hit $4 trillion in 2017
China’s e-commerce market continues to expand, with the total amount of transactions reaching $4.26 trillion in 2017, an increase of 11.7 per cent from a year before. In 2017, China’s cross-border e-commerce transaction volume reached 8.2 trillion yuan, a year-on-year increase of 22.3 per cent, according to official Chinese media reports.
The top destinations of Chinese e-commerce goods in 2017 were Hong Kong, the United States, Russia, South Korea and the United Kingdom. While the top sources of imported goods using e-commerce were Japan, the United States, South Korea, Australia and Germany.
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country’s cross-border e-commerce transactions are expected to reach more than 9 trillion yuan in 2018, accounting for more than 40 per cent of global transactions.