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China’s online retail sales of physical goods exceeded the 10-trillion-yuan ($1.58 trillion) threshold to hit 10.8 trillion yuan in 2021, according to its ministry of commerce (MOC), which recently said online retail sales in the country hit 13.1 trillion yuan last year. E-commerce in the services sector in China posted robust growth as well.
MOC spokesperson Gao Feng said online retail sales of physical goods accounted for 24.5 per cent of total retail sales of consumer goods and contributed 23.6 per cent of the growth of retail sales of consumer goods in 2021.
He said the steadily growing online retail market has become an important force keeping growth, employment and consumption stable, according to official media reports.
China’s online retail sales of physical goods exceeded the 10-trillion-yuan ($1.58 trillion) threshold to hit 10.8 trillion yuan in 2021, according to its ministry of commerce (MOC), which recently said online retail sales in the country hit 13.1 trillion yuan last year. E-commerce in the services sector in China posted robust growth as well.
China’s consumption market saw an upgrading trend last year, with healthy, green and high-quality goods increasingly favored by consumers, Gao added.
Fibre2Fashion News Desk (DS)
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