E-commerce Transaction Value to Hit 40 Trillion Yuan in 2020

(Beijing) — China is aiming for its flourishing e-commerce sector — a new pillar for driving consumption, trade and employment — to grow at 12% annually through 2020, according to the country’s latest five-year plan.

China’s e-commerce market, the largest in the world, is expected to double in the next four years to 40 trillion yuan ($5.75 trillion) a year with online retail doubling to 10 trillion yuan a year.