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MOFCOM: CN 1Q Online Retail Sales Grow 12.4% YoY
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The online retail sales in China in the first quarter amounted to RMB3.3 trillion, a year-on-year growth of 12.4%, said the person in charge of the Department of E-Commerce of the Ministry of Commerce (MOFCOM). Consumption of services continued to juice growth, with the MOFCOM's key-monitored online service consumption growing by 28.5%. Among which, the online travel and online food and beverage shot up by 95% and 27.8% respectively. Digital consumption became a new growth point, as the MOFCOM organized localities to implement the Digital Consumption Enhancement Initiative, with the smart wearable devices and electronic audio-visual products growing by 30.9% and 23.4% respectively. AAStocks Financial News |
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