Interviews
Commerce ministry data shows online retail sales during the period rose by 9.8 per cent year on year (YoY) to 7.1 trillion yuan (~$996 billion), of which retail sales of goods reached 5.96 trillion yuan—a rise of 8.8 per cent YoY.
Digital products, services consumption and trade-in programmes were the three new drivers for consumption growth during the period, a state-controlled news outlet reported.
In digital products, artificial intelligence (AI) learning machines and smart wearable devices grew by 136.6 per cent and 31.5 per cent YoY respectively.
E-commerce platforms in China coordinated to offer trade-in services for more than 400,000 products and recycling services covering over 300 categories of goods.
The e-commerce sector's international cooperation has expanded further as it drives consumption recovery domestically.
China signed e-commerce cooperation agreements with Serbia, Bahrain and Tajikistan in H1 2024, bringing the total number of Silk Road e-commerce partner countries to 33.
Fibre2Fashion News Desk (DS)
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-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
