China’s electronic business has developed rapidly in recent years, which has become the new engine of economic development for the country. This new engine is of great importance for boosting consumption, expanding domestic demand and transforming economic development pattern.
Network marketing has gradually become a formal pattern.
Despite the negative impact of the international finance crisis, the increase rate of China’s electronic commerce averagely surpassed 30 percent during 2007 to 2012. The gross turnover of electronic commerce reached 6 trillion yuan in 2011, and the ration of online shopping to total volume of social retail sales broke through 4 percent.
China’s electronic shopping scale has surpassed Japan with an growth rate of 40 percent in 2012. China may surpass the United States and top the largest online trading market in the next few years.
China’s electronic commerce consists of four models: B2B, B2C, C2B and C2C. All these models are in an improving trend.
At present, China’s online shopping not only contains computer, communication, consumer electronics and books, but cosmetics, food, domestic appliances, or household service are included on the Internet.
China’s electronic business has experienced a high speed and stable increase in the last decade. The electronic business is becoming a main channel for expanding domestic consumption in China. Meanwhile, it has promoted related industries’ development, like online payment and express delivery, and it has also reduced the jobless rate in China.
However, the electronic business in China still has some problems. Some of the problems belong to the common issues of the traditional business, like forged and fake commodity or lack of integrity; some are new problems derived from the electronic commerce: Internet safety and gateway certificate.
Edited and translated by Ma Xi, People's Daily Online
Read the Chinese version: 电子商务：我国经济发展的新引擎
Source: People's Daily
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