China's second-hand e-commerce market H1 turnover crosses 28 bln USD: report

SHANGHAI, Sept. 8 (Xinhua) -- China's second-hand e-commerce market recorded a turnover of about 186.7 billion yuan (about 28.87 billion US dollars) in the first half (H1) of 2021, according to the latest report released on Wednesday by the e-commerce research center under online service provider www.100ec.cn.

The trading volume is expected to reach above 400 billion yuan by the end of this year, up nearly 30 percent year on year, said the report.

The center defines the major market players as e-commerce platforms specialized in trading discarded items except for large commodities such as cars and houses.

Around 202 million users participated in the booming sector in the first six months of this year, and the number is estimated to cross 223 million by the end of 2021, up 22.52 percent, according to the online service provider.

A total financing of more than 5.76 billion yuan had been made during the same period, mainly benefiting platforms targeting electronics recycling and discarded luxuries.