China’s e-commerce transactions hit $2 trillion in 2014

[vc_row][vc_column][vc_column_text]Online shopping is becoming more and more popular and is now one of the fastest-growing web activities in China. With the biggest population in the world, online shopping has exploded in recent years as consumers turned to the internet for cheaper products and overseas goods that are believed to be safer than domestic options, such as baby formula. Research shows that the e-commerce transaction reached around 13 trillion yuan ($2.09 trillion). Another good example to show the booming e-commerce is the Singles Day on November 11, also known as the e-commerce holiday of the year. During its 24-hours shopping promotions, the country’s e-commerce giant Alibaba said consumers spent a record $9.3 billion, 60 percent more than in 2013. Authorities expect that e-commerce will become the new engine for growth in the world’s second-largest economy.[/vc_column_text][/vc_column][/vc_row]