China's e-commerce sites have captured 70 percent of cross-border online sales with Russia, valued at $3.5 billion in 2014, said China Securities Journal on Wednesday, citing a research report from Russia.
The country's booming e-commerce market has received widespread popularity, as evidenced in the research report jointly conducted by East-West Digital News, a Russian digital news information provider, and Internet company Yandex, which operates Russia's largest domestic search engine.
It said that online Chinese stores received 50 million orders from Russia last year, up 40 percent year-on-year.
Among China's popular online shopping websites, AliExpress, the cross-border e-commerce site of Alibaba Group Holding Ltd, received the most orders, followed by Taobao.com, Tmall.com, DX.com, Dangdang.com and the Lightinthebox, according to the research report.
Most of the transactions are paid through Yandex.Money, Russia's largest electronic payment service operated by the company. Yandex provided payment services for about 40 Chinese online shopping stores by 2014, the report showed.
