E-Commerce Booms

(HUANG ZONGZHI)

The Internet is becoming a hotbed for businesses as e-commerce continues gaining momentum this year.

The e-commerce transaction volume in the country amounted to 3.3 trillion yuan ($496.2 billion) in the first three quarters, compared with 3.6 trillion yuan ($541.4 billion) for the entire year of 2009, said a recent report by the Shanghai-based iResearch Consulting Group.

B2B remains the most vibrant activity, accounting for 88.5 percent of the e-commerce market.

Meanwhile, online shopping is also bursting with vitality as Chinese consumers search for bargains on everything from cosmetics to clothes.

On November 11, Taobao.com, China's largest online shopping marketplace, reported a record daily sales of 936 million yuan ($140.8 million) from its newly launched B2C platform Tmall.com, compared with Hong Kong's average daily retail sales of 850 million yuan ($127.8 million).