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China e-commerce going mobile

2014-01-02 16:59 CNTV Web Editor: Yao Lan

Another new trend of 2013 is e-commerce going mobile. Mobile phones are the most used way for Chinese internet users to get online.

Alibaba's e-commerce sales are now more than the sum of eBay and Amazon sales.

In China, Alibaba is responsible for about 80% of all online commercial transactions, and its revenue takes up as much as 2 percent of China's GDP. But for its founder Jack Ma, thats just the beginning.

He believes that China's online sales will surpass traditional retail by 2020.

"I believe next year or the year after, most retail developers will not invest heavily in commercial real estate anymore, and that will bring down housing prices nearby. I hope it will also bring down retail prices as well. I think its not difficult to reach 100 billion yuan sales for double 11 in a few years but that's not our goal here." Jack Ma, Founder of Alibaba said.

The most significant development is that a quarter of Alibaba's online sales were made using mobile devices. A strong indication that e-commerce in China is rapidly transitioning towards mobile in 2014.

"While mobile-commerce in China was almost non-existent just two years ago, shopping through mobile devices such as smartphones and tablets has quickly gained acceptance among Chinese digital consumers. The spread of mobile-commerce will make it the purchasing channel of choice going forward." David Wei, Former CEO of Alibaba said.

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