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China's E-commerce market to hit RMB 18 trln by 2015

May. 7, 2012 (China Knowledge) - China's E-commerce transactions are expected to reach RMB 18 trillion by 2015, according to a Twelfth Five-Year Development Plan for the Internet industry released by the Ministry of Industry of Information Technology.

The ministry said that the country would have 800 million netizens by 2015.

The Internet service sector will grow more than 25% annually and is expected to generate revenue of over RMB 600 billion in 2015, and Internet enterprises in China will provide 2.3 million jobs by then, according to the development plan.

In the first quarter of this year, China's E-commerce transactions were RMB 1.76 trillion, up 25.8% year on year but down 3.83% from RMB 1.83 trillion from the fourth quarter of 2011. The B2B sector continued to dominate the E-commerce market with a share of 84.5% in the quarter, and the online shopping sector saw its share rise to 13.0% from 11.0% in 2011, according to data from iResearch Consulting Group.

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