According to the report, Chinese consumers traded more than Rmb 1.9 trillion (US$277.9 billion), up from Rmb 1.6 trillion ($234 billion) in 2007.
IDC further noted that the sector is slated to surge in the next few years, projecting trade volume to reach Rmb 3.2 trillion ($471 billion) by 2010.
The news follows an active year for China’s e-commerce industry. Alibaba, China’s leading e-commerce company, launched a US$30 million international campaign in 20 markets to bolster its global presence directly following the launch of a rival e-commerce site by Baidu.
Alibaba further said it would invest US$732 million into Taobao over the next five years to ensure its lead in the burgeoning market.
IDC further noted that the sector is slated to surge in the next few years, projecting trade volume to reach Rmb 3.2 trillion ($471 billion) by 2010.
The news follows an active year for China’s e-commerce industry. Alibaba, China’s leading e-commerce company, launched a US$30 million international campaign in 20 markets to bolster its global presence directly following the launch of a rival e-commerce site by Baidu.
Alibaba further said it would invest US$732 million into Taobao over the next five years to ensure its lead in the burgeoning market.
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