E-book trade vol­ume to reach $5.34b by 2020

China Daily (Hong Kong) - - BUSINESS -

The trade vol­ume of China’s e-book mar­ket is ex­pected to reach 33.5 bil­lion yuan ($5.34 bil­lion) by 2020, ac­cord­ing to a re­port in Peo­ple’s Daily on Tues­day. The mar­ket will see av­er­age an­nual growth of 29.8 per­cent in the next three years, ac­cord­ing to the re­port, jointly re­leased by Chi­nese on­line book re­tailer Dang­dang.com and big data anal­y­sis ser­vice provider Analysys. In 2017, ebooks reg­is­tered growth of 29.2 per­cent to reach 15.3 bil­lion yuan, while on­line sales of printed books rose 34.4 per­cent year-on-year to 30.1 bil­lion yuan, it added. China For­eign Ex­change Trade Sys­tem. In China’s spot for­eign ex­change mar­ket, the yuan is al­lowed to rise or fall by 2 per­cent from the cen­tral par­ity rate each trad­ing day. The cen­tral par­ity rate of the yuan against the US dol­lar is based on a weighted av­er­age of prices of­fered by mar­ket mak­ers be­fore the open­ing of the in­ter­bank mar­ket each busi­ness day.

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