Thursday, February 03, 2005

EbayEachnet vs. Alibaba: Competition on China's e-commerce market intensifies

From Competition on China's e-commerce market intensifies

"Both the eBay Eachnet under the US giant eBay and the largest Chinese e-commerce company Alibaba are busy building secure online payment systems, heating up the competition on the domestic e-commerce market ... ."
"This year will be critical for the development of e-commerce and online payment," said Jack Ma, CEO of Alibaba and Taobao, Alibaba's subsidiary online auction website.He said Wednesday at a press conference that his company will use the experience of Taobao's online payment tool AliPay for the business-to-business e-commerce website Alibaba. ...
EBay Eachnet, in fierce competition with Taobao, also announced yesterday that it would spend more than 100 million yuan (US$12 million) this year to launch a new online payment system."

"According to iResearch, the total trading volume of e-commerce in China will grow from 440 billion yuan (US$53.14 billion) in 2004 to 620 billion yuan (US$74.88 billion) this year. "Read more


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