China’s online retail transaction leads the world

   BEIJING, Dec. 16 (Xinhua) — Chinese Academy of Cyberspace released on Tuesday a report titled “Internet Development of China over the Last Two Decades” in Wuzhen, Zhejiang Province, saying that China’s online retail transaction has taken the lead in the world with the number of mobile shoppers totaling 270 million.

According to the report, the market value of Chinese Internet firms increased rapidly and there were about 328 listed companies in the field, including 61 listed in the U.S. market, 209 listed in China’s A-share market, 55 listed in Hong Kong stock market, and their total market value was about 7.85 trillion yuan, equivalent to 25.6 percent of the total of China’s stock market value.

Currently, listed Chinese Internet companies including Alibaba Group (BABA.NYSE), Tencent Inc. (00700.HK), Baidu, Inc. (BIDU.NASDAQ) and Inc. (JD.NASDAQ) are among the world’s top 10 largest Internet companies, and Huawei Technologies, Ant Financial, Xiaomi Technology which haven’t gone public are among the world’s top 20.

China Business News quoted Wang Yukai, a member of the Advisory Committee for State Information and professor at Chinese Academy of Governance, as saying that the essence of “Internet+” is “Internet 2.0+Innovation 2.0,” and new business patterns and economic growth models will be created by the integration of “Internet+” with any other industry. Enditem

Editor: Xuefei Chen Axelsson

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