Tuesday, May 17, 2005

China's e-Commerce Enters "Golden Age"

From Asia Times: e-commerce enters "golden age"

"Song Ling, president of the China e-commerce Association, said growth of the online trading business has increased by an average of 40% over the past three years. Song is also optimistic for the future, predicting an average annual growth rate of 50% over the coming three years. According to Song, the robust growth of China's Internet population, especially broadband Internet users, is a fundamental driving force in the explosive growth of e-commerce."

"According to the China Internet Network Information Centre, China's Internet users totalled 94 million individuals by the end of 2004, including 6.1 million broadband Internet users. It is estimated the number of broadband Internet subscribers will grow to 176 million in 2010. (...) According to CNNIC's (China Internet Network Information Centre) statistics, more than 40 million people conducted transactions on the Internet in 2004, compared with 10.65 million in 2001. More than 60% of people say they will try online trading this year."

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