E-commerce adds momentum to the Chinese economy
2023-11-27
According to the Sputnik News Agency of Russia, the head of the E-commerce Department of the Ministry of Commerce of China recently said that from January to October this year, China's online retail sales reached 12.3 trillion yuan, an increase of 11.2%. The contribution rate of online retail of physical goods to the growth of social consumer goods retail reached 32.1%. According to the Nihon Keizai Shimbun, in the United States, people's use of e-commerce service platforms originating in China, such as Temu and Hiseon, has soared. In October, the total number of US users for these two application software exceeded 100 million, accounting for nearly 90% of the total number of US users on Amazon, the largest e-commerce platform in the United States. In recent years, the market size of China's e-commerce industry has continued to expand and developed rapidly. According to data from the China Federation of Logistics and Purchasing, the China E-commerce Logistics Index was 111.9 points in October, maintaining above 110 points for five consecutive months. Currently, the development of China's e-commerce industry presents the following characteristics: firstly, a large total volume. China has the world's largest online retail market. According to data from the National Bureau of Statistics, the online retail sales in China reached 13.79 trillion yuan in 2022, a year-on-year increase of 4%. Among them, the online retail sales of physical goods reached 11.96 trillion yuan, accounting for 27.2% of the total retail sales of consumer goods in society. Online shopping has become one of the main ways for consumers to consume and shop; Secondly, high innovation activity. E-commerce is highly integrated with information technology such as "Internet plus", and new consumption formats and models such as instant retail, live broadcast e-commerce, and social e-commerce are developing rapidly; Thirdly, the social impact is extensive. E-commerce has a low threshold for entrepreneurship and diverse forms, which can effectively drive employment and promote consumption. The booming development of China's e-commerce industry is based on multiple factors: firstly, the development process of China's e-commerce industry is accompanied by the rapid popularization of the Internet. For many years, the Chinese government has attached great importance to the construction of information infrastructure. The acceleration of broadband popularization and the decrease in network fees have provided strong technical support for the development of e-commerce, cultivating a large user base. Secondly, the Chinese e-commerce industry benefits from the development of China's manufacturing and logistics industries. The scale of China's manufacturing industry has been ranked first in the world for 13 consecutive years, and its rich commodities and strong supply chain have provided important support for the development of e-commerce in China. Meanwhile, e-commerce relies on efficient logistics delivery. In recent years, the express delivery industry in China has developed rapidly, complementing the development of the e-commerce industry. Most private express delivery companies in China adopt a franchise model, which effectively solves the problem of high express delivery costs. Thirdly, the development of China's e-commerce industry cannot be separated from national policy support. For many years, the Chinese government has adopted an inclusive and prudent regulatory approach, leaving ample space for the development of new business models while strictly adhering to safety bottom lines, and promoting the development of e-commerce. The e-commerce industry plays a positive role in expanding domestic demand, stabilizing foreign trade, and deepening international cooperation, adding strong momentum to the Chinese economy. According to data released by the National Bureau of Statistics, the national online retail sales in the first three quarters of this year reached 10.8 trillion yuan, an increase of 11.6%, which is 4.8 percentage points higher than the growth rate of the total retail sales of consumer goods. Among them, the online retail sales of physical goods increased by 8.9% year-on-year, accounting for 0.7 percentage points more than the same period last year in the total retail sales of consumer goods in society. It can be said that from
Edit：Hu Sen Ming Responsible editor：Li Xi
Source：XinhuaNet
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