China Online Shopping Exceeded RMB 10 Trillion Last Year

Currently, the National Bureau of Statistics of China released the 2019 China Economic Development New Momentum Index. In 2019, China’s economic development new momentum index was 332.0, an increase of 23.4% over the previous year.

Among them, the network economy performed very well and contributed the most to the growth of the new momentum index. Last year, China’s emerging consumption developed rapidly, and online shopping continued to expand. The national online retail sales exceeded RMB 10 trillion.

In 2019, China’s new economic development momentum will continue to grow, new industries, new business formats, and new business models will accelerate growth, which will vigorously promote the high-quality development of the economy.

According to estimates, the network economy index in 2019 is as high as 856.5, an increase of 42.0% over the previous year, and the contribution rate to the growth of the new momentum index of economic development is 80.5%. Compared with other sub-indexes such as the Innovation Drive Index and the Knowledge Ability Index, the Network Economy Index has the highest increase and the largest contribution.

The in-depth advancement of “Internet++” and the continuous improvement of network infrastructure support capabilities provide an effective guarantee for the development of the network economy. Online consumption continued to be active, and new momentum was further developed.

From the perspective of main indicators, the number of mobile Internet users is expected to reach 1.32 billion by the end of 2019, an increase of 3.5% over the previous year. Mobile Internet access traffic reached 122 billion GB, 1.7 times that of 2018. Fixed Internet broadband access users reached 449 million, an increase of 10.3% over the previous year.

China’s emerging consumption is developing rapidly, online shopping continues to expand, and consumption of intelligent products and information continues to grow. The pace of online and offline integration is accelerating, and new consumer formats and models continue to grow.

Data show that in 2019, China’s e-commerce platform transaction volume reached 34.8 trillion yuan, an increase of 10.1% over the previous year. Online consumption continued to maintain rapid growth. The national online retail sales reached 10.6 trillion yuan, an increase of 16.5% over the previous year, and the growth rate was 8.5% higher than the growth rate of the total retail sales of consumer goods. Among them, the online retail sales of physical goods increased by 19.5%, accounting for 20.7% of the total retail sales of consumer goods, an increase of 2.3 percentage points over the previous year.

New trade formats and models represented by cross-border e-commerce have become a bright spot for foreign trade growth. In 2019, 24 new comprehensive cross-border e-commerce pilot zones will be established in China. China’s cross-border e-commerce transaction volume reached 1.99 trillion yuan, an increase of 12.4% over the previous year.

The rapid growth of online consumption in China is behind the continuous growth of online shopping users. According to the 45th “Statistical Report on China’s Internet Development Status” released by the China Internet Network Information Center (CNNIC), as of March 2020, the number of online shopping users in China reached 710 million, an increase of 16.4% from the end of 2018, accounting for the total number of Internet users. 78.6%.

This year’s new crown pneumonia epidemic has brought a negative impact on consumption. The development of e-commerce and logistics has enabled more and more shopping to be completed online, and the consumption of out-of-office shopping and out-of-office services has decreased. Online shopping and online service consumption increase, and online consumption is expected to further expand in the future.

Under the epidemic situation, the growth rate of China’s e-commerce development has risen instead of falling. In terms of stimulating residents’ consumption, e-commerce platforms have promoted the sales of many physical businesses through online and offline integration, and injected new impetus into economic growth.