E-commerce booms, buy away

Recent years have seen an aggressive expansion of the e-commerce industry in China, facilitated by third-party payment platforms such as Alipay and other late-comers. The booming sector, driven by e-commerce giants led by Alibaba Group, tends to dwarf brick-and-mortar stores and has transformed the way we do businesses.

Data from the National Bureau of Statistics show online transactions reached 2.8 trillion yuan in 2014, accounting for 10.7 percent of China's total social consumer goods. According to Alibaba, the one-day online trade via its Tmall and Taobao platforms at the Singles Day this year hit a record of 91.2 billion yuan, up 59.7 percent from a year earlier.

According to Alibaba, the one-day online trade via its Tmall and Taobao platforms at the Singles Day this year hit a record of 91.2 billion yuan, up 59.7 percent from a year earlier. [Photo / IC]