CHINA TO BECOME LARGEST COUNTRY OF ONLINE SHOPPING

AsiaInfo Services
05-18-2011
China to Become Largest Country of Online Shopping

BEIJING, May 18, 2011 (SinoCast Daily Business Beat via COMTEX) -- iResearch Consulting Group predicts that China's trading value of online shopping will approach CNY 500 billion this year and top those of Japan and the US two to three years later. By then, China will become the largest country in terms of online shopping.

Chinese e-commerce companies like Mecox Lane Limited (Nasdaq: MCOX) and E-Commerce China Dangdang Inc. (NYSE: DANG) have generated rich returns to venture capital investors after their listings in the US, triggering investment frenzy in the Chinese e-commerce market.

Earlier, 360buy.com CEO Liu Qiangdong forecasted that China's B2C market would experience reshuffle in 2012 and only one to three B2C e-commerce companies will be left after five years.

Liu reveals that 360buy.com has put 70% of its capitals financed in the first two rounds into building logistic system. Half of the third round of investment will also be used for warehouse construction. Similar inputs will reach CNY 5 billion to CNY 6 billion in the future three years.

Source: informationtimes.dayoo.com (May 18, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
E-commerce
SinoCast China Business Daily news
online shopping
e-commerce
listing
US
investment
B2C

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