E-com­merce Pros­per­ity

ChinAfrica - - Business Numbers -

The e-com­merce mar­ket in China is ex­pected to grow by about 19 per­cent year on year in 2017. China has en­tered “a new re­tail era” char­ac­ter­ized by on­line and off­line (O2O) re­tail that has cre­ated huge po­ten­tial and de­mand, es­pe­cially for cus­tom­ized prod­ucts, ac­cord­ing to a re­port re­leased by con­sult­ing firm Mck­in­sey & Com­pany. The pop­u­lar­ity of so­cial me­dia spurs on­line buy­ing, it said. Af­ter years of ex­plo­sive growth, China has emerged as the world’s largest e-com­merce mar­ket, equal­ing the com­bined size of the next six ma­jor mar­kets in­clud­ing the United States, Bri­tain, Ja­pan, Ger­many, South Korea and France, said the re­port. Last year, China’s e-com­merce mar­ket ex­panded 19.8 per­cent year on year to $3.82 tril­lion, ac­count­ing for 39.2 per­cent of the world’s to­tal, ac­cord­ing to China’s Min­istry of Com­merce. ap­proach, govern­ment ap­provals are not re­quired for most for­eign in­vest­ment and only in­vest­ment on the “neg­a­tive list” re­mains sub­ject to ap­proval. A new for­eign in­vest­ment cat­a­logue, which in­cluded the neg­a­tive list as well as sec­tors and in­dus­tries that the govern­ment en­cour­aged for­eign com­pa­nies to in­vest in, also took ef­fect on July 28. As a re­sult, for­eign in­vest­ment now have eas­ier ac­cess to China’s high­way pas­sen­ger trans­port, pro­cess­ing of cer­tain rare met­als, as well as man­u­fac­tur­ing of rail tran­sit equip­ment and cook­ing oil, among oth­ers. Sec­tors that are off-lim­its to for­eign in­vestors in­clude air traf­fic con­trol and com­pul­sory ed­u­ca­tion in­sti­tutes.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.