Economy

Online shopping boom to continue in 2010: report

(Xinhua)
Updated: 2010-05-20 10:29

BEIJING - A report on business in China predicts Chinese consumers will spend 500 billion yuan ($73.5 billion) via online shopping in 2010, accounting for over three percent of all retail sales.

The report forecasts total retail sales of consumer goods in 2010 at 15 trillion yuan.

Related readings:  China's April retail sales up 18.5%  Surfing for treasure  titleOnline shopping booms in China  If you need it, it's there on Taobao

The report was jointly released by the Chinese Academy of Social Sciences, the Li & Fung Research Centre, and the Social Sciences Academic Press on Wednesday in Beijing.

The report said online shopping accounted for one percent of total retail sales of consumer goods in 2008 and more than two percent in 2009.

Online trading volume of home electronics will double to 80 billion yuan in 2010, the report said.