China first half online sales rise 7.3 percent YOY

China first half online sales rise 7.3 percent YOY

THE WHAT? China has achieved first half 2020 online sales of 5.15 trillion yuan (approx $736.7 billion), rising 7.3 percent YOY, according to the Ministry of Commerce (MOC).

THE DETAILS The growth rate is said to have risen consecutively each month, with June seeing a year-on-year rise of 18.6 percent, according to MOC spokesperson Gao Feng. 

Fuelled by retail store closures amidst the COVID-19 pandemic, the number of e-commerce visitors increased by 100 million in comparison to 2019. 

THE WHY? Speaking at a press conference, Feng stated that online sales was an anchor for the country, stabilizing the consumption market. Citing that its role in commerce is of ongoing importance, the number of stores online has also increased, with retail platforms up 3.8 percent. 

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