Online retail sales increased by 12.4% in the first five months

2024-06-26

On the 25th, the person in charge of the E-commerce Department of the Ministry of Commerce introduced the development of e-commerce in China from January to May, stating that since the beginning of this year, e-commerce in China has played a positive role in promoting consumption recovery, promoting the integration of data and reality, and expanding international economic and trade cooperation, and the level of digitalization in the business field has been continuously improving. Consumer e-commerce stimulates market potential. The online promotional activities have a strong driving effect, with the Ministry of Commerce guiding the holding of the "Double Product Shopping Festival". The "618" event was advanced, driving online retail sales from January to May to reach 5.77 trillion yuan, an increase of 12.4%. Among them, the proportion of physical goods online retail sales to the total retail sales of consumer goods in society was 24.7%, an increase of 0.8 percentage points from January to April. The growth momentum of service consumption is strong, with a focus on monitoring a 23.2% increase in online service consumption, and a 1.9 fold increase in inbound tourism sales on major online tourism platforms. There are many highlights in digital consumption, with an increase of 20.8% in artificial intelligence related products. The e-commerce platform plays a significant role as a hub for exchanging old products for new ones, and the distribution range of related products has expanded to more than 96% of urban areas nationwide. In May, major categories such as washing machines, furniture, and mobile phones accelerated, with growth rates of 33%, 21.3%, and 20%, respectively. Industrial e-commerce promotes the integration of data and reality. The Ministry of Commerce, together with local governments, supports e-commerce platforms in deepening the "transaction+industry chain" model, with a focus on monitoring a 6.5% increase in B2B platform transaction volume. The application of new technologies has shown significant effects. Artificial intelligence technologies such as graphic and text generation, intelligent product selection, and digital human monitoring have helped businesses reduce costs and increase efficiency, with usage rates reaching 20-30%. "Digital commerce promotes agriculture" promotes efficient integration of production and sales, and models such as direct procurement at the source drive a 24.7% increase in online retail sales of agricultural products. Silk Road e-commerce deepens international cooperation. Signed new e-commerce cooperation memorandums with Serbia and Bahrain, expanding the "Silk Road E-commerce" partner countries to 32. China and Iceland carry out product and service docking in the e-commerce field. The institutional opening of the Shanghai Silk Road E-commerce Cooperation Pilot Zone has accelerated, and three high standard institutional innovations, including cross-border mutual assistance and customs clearance, have been promoted in the Yangtze River Delta region. The Silk Road E-commerce Cooperation Training Center has organized more than 300 training sessions for partner countries, formed the Silk Road E-commerce International Think Tank Alliance, and increased the number of partner country pavilions to 26. The digitalization of the business sector is steadily advancing. Deeply implement the Three Year Action Plan for Digital Commerce (2024-2026), and jointly issue the Opinions on Expanding Cross border E-commerce Exports and Promoting Overseas Warehouse Construction with 9 departments. In the first quarter, the proportion of cross-border e-commerce in exports increased to 7.8%, driving export growth by over 1 percentage point. Actively creating a favorable environment for digital enterprises to go global, and the scale of outward direct investment in the digital field continues to expand. (Lai Xin She)

Edit:Xiong Dafei    Responsible editor:Li Xiang

Source:People.cn

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