Industry dynamic — E-commerce, New trade development model

On January 22, Minister of the Ministry of Commerce talked about the development of the online retail market in 2020, saying that in the past year, the development of the online retail market showed a positive trend, and the market size hit a whole new high level. In the whole year of 2020, the features of Chinese online retail market are as follows: the transformation of old business model to new has been fastened up, and the momentum of consumption upgrading is undiminished; Cross-border e-commerce continues to promote the development of international trade; Rural e-commerce has been upgraded, and the development of rural e-commerce has been deepened.

It is reported that in 2020, China’s key monitoring e-commerce platforms have accumulated more than 24 million live sales, online education sales have increased by more than 140% comparing with last year, and online medical patient consultation has increased by 73.4% year on year.In addition, large-scale online shopping promotion activities such as “Double Shopping Festival”, “618″, “Double 11″ and the ongoing “Online Spring Festival Shopping Festival” have promoted the release of demand and strongly boosted the market growth. The consumption of green, healthy, “home scene” and “house economy” has become more popular, and the growth of fitness equipment, healthy food, disinfection and sanitation products, middle and high-end kitchen appliances and pet products has all exceeded over 30%.

According to customs statistics, China import and export volume of cross-border e-commerce will reach 1.69 trillion RMB in 2020, an increase of 31.1%. China cooperation with 22 countries on Silk Road e-commerce has deepened, and the implementation of bilateral cooperation outcomes has accelerated. 46 new cross-border e-commerce comprehensive trial zones were added, and “9710″ and “9810″ cross-border e-commerce B2B export trade models were added to facilitate customs clearance.

In terms of rural e-commerce, rural online retail sales reached 1.79 trillion yuan in 2020, up 8.9% year on year. E-commerce has accelerated the industrialization and digital development of enabling agriculture, and a series of agricultural products adapted to the e-commerce market continue to sell well, giving a strong boost to rural revitalization and poverty alleviation. According to data released by the National Bureau of Statistics, China online retail sales in 2020 will reach 11.76 trillion yuan, up 10.9% year on year, and the online retail sales of physical goods will reach 9.76 trillion yuan, up 14.8% year on year, accounting for nearly a quarter of the total retail sales of consumer goods.

Data show that online retail is playing an increasingly important role in promoting consumption, stabilizing foreign trade, expanding employment and ensuring people’s livelihood, contributing new vitality to a new pattern of development in which the domestic cycle is the main body and the domestic and international cycles are mutually reinforcing.

Post time: Feb-01-2021