BEIJING: In 2023, China’s online retail sales surged by 11 percent to reach 15.42 trillion yuan (2.17 trillion U.S. dollars), solidifying its status as the world’s largest online retail market for the 11th consecutive year. This data was officially disclosed by the Ministry of Commerce on Friday.
Furthermore, the figures revealed that online retail sales of physical goods in China represented 27.6 percent of the overall retail sales of consumer goods, marking a historic high.
Chinese consumers exhibited a conspicuous inclination towards environmentally friendly and wholesome merchandise, with a notable preference for domestic brands.
According to China Central Television, indigenous Chinese brands constituted a substantial majority, surpassing 65 percent, of the overall sales among the nation’s leading brands.
Moreover, the data showcased a notably diverse Chinese online service sector, with the online travel, entertainment, and catering industries experiencing rapid growth. These sectors contributed to a
substantial 23.5 percent of the overall increase in online retail sales.
Source: Emirates News Agency