Online retail sales in China record a very huge number!

Online retail sales in China recorded steady growth in the first and second months of 2024, reaching 2.15 trillion yuan (about $303 billion).

The Chinese news agency, Xinhua, reported that total online retail sales during the aforementioned period amounted to 2.15 trillion yuan, an increase of 15.3 percent year-on-year, according to official data issued by the Chinese Ministry of Commerce.

Online retail sales of physical goods across China rose 14.4 percent year on year, reaching 1.82 trillion yuan, contributing 22.4 percent of total retail sales of consumer goods in China.

The number of online shoppers in China rose to more than 914 million people by the end of December 2023.

This number represents about 83.8 percent of the total Internet users in the country, according to a report issued by the Chinese Internet Information Center, which confirmed the continued growth of the e-commerce industry, its support for the national economy, and the promotion of consumption.

According to Liu Yulin, head of the China Internet Information Center, more than 150 million millennial consumers will buy fashionable Chinese products in 2023, reflecting young people’s interest in traditional Chinese culture and the expansion of local brands.

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