China’s e-commerce turnover up 22 percent in 2010

SHANGHAI - The e-commerce turnover in China has jumped 22 percent in 2010 from a year earlier to 4.5 trillion yuan.

According to a report released by the China e-commerce research center, online retail sales almost doubled to 513.1 billion yuan.

The report estimated that online retail sales would double to hit a trillion yuan in the next two years, taking up over five percent of the nation’s total retail sales, Xinhua news agency reports.

Zhang Zhouping, an analyst with the researcher center, said that the steady sales growth was due to the government’s policy support for e-business. (ANI)