China said the number of Internet users in what is already the world’s largest online market had jumped to 450 million — more than a third of the country’s 1.3-billion-strong population. This is up from the beginning of 2010 when it was 384 million.
More than half of China’s 1.3 billion people will go online and their enthusiasm for online shopping will create a market of more than 2 trillion yuan in 2013 Based on the result of its survey for the first half of 2010, it estimates that by the end of 2010, the number of Chinese netizens will have reached 469 million, which is 35 percent of the country’s total population.
That number will rise to 718 million, which is nearly 53 percent of the total population.
The huge netizen group will boost online consumption, which has already been growing rapidly. The online consumption was worth 473 billion yuan over the first half of the year and is expected to be close to 1.2 trillion yuan for the whole year. In 2013, the market is likely to exceed 2 trillion yuan. More than half of the online consumption will come from online shopping in 2011.
Industry insiders think that fast consumers products are dominating the online deals currently. Alipay, China’s leading online payment settlement service, has even outpaced Paypal, the world’s largest in the industry under eBay. By the end of September 2010, Alipay had more than 500 million registered clients with more than 2 billion yuan of transactions on a daily basis. Its 7 million deal volume on a daily basis far outnumbered Paypal’s 3.9 million in the third quarter of the year.
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Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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