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The Chinese e-commerce market is set to grow from $2.1 trillion in 2021 to $3 trillion at a compound annual growth rate (CAGR) of 12.4 per cent by 2024, forecasts GlobalData, a leading data and analytics company. E-commerce sales in China are expected to register a growth of 17.2 per cent in 2021 as consumers shift from offline to online due to the pandemic. The pandemic has led to a slump in the overall consumer spending, but it has also resulted in the growth of e-commerce purchases, according to GlobalData’s E-Commerce Analytics. “Chinese e-commerce evolved rapidly over the last five years, supported by high internet and smartphone penetration, increasing consumer confidence in online shopping, the emergence of e-commerce platforms, and the availability of alternative payment solutions such as Alipay and WeChat Pay. The COVID-19 pandemic has further accelerated this trend as consumers are increasingly using online channels for their purchases,” said Nikhil Reddy, b

Nikhil reddyNational bureau of statistics chinaNational bureauWechat payNews deskE commerceAeste commerce newsAeste commerce updatesநிகில் சிவப்புதேசிய பணியகம் ஆஃப் புள்ளிவிவரங்கள் சீனாதேசிய பணியகம்வெச்சாட் செலுத்தசெய்தி மேசைஏ வர்த்தகம்