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.
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.
