China e-commerce transaction value was estimated to be over RMB12 trillion (US$1.95 trillion) with an increase of 20% YoY in 2014 according to the report from the conference of China MIIT. There were over 2,000 cross-border e-commerce enterprises in China on record according to China General Administration of Customs.
China’s e-commerce industry will account for 18% of the total retail sales in 2018, up from 8% in 2013 estimated by Morgan Stanley.
It was estimated that national industrial added-value would increase by about 8.3% and the information consumption value would increase to RMB2.8 trillion (US$455.12 billion) with an increase of 25% YoY in 2014. It is said that the revenue growth rate of China telecommunication industry, software & information technology and internet were 4%, 20% and 50% respectively in 2014.
China’s fiber internet network was estimated to reach 70 million households in 2014. 4G subscribers are expected to exceed 90 million and IPTV users over 33.4 million. Broadband users with over 8M bandwidth will account for 38.9% of all users according to Miao Wei, China MIIT’s minister on the MIIT conference recently.
Also read: Demographics of China E-Commerce Community on Weibo
