China’s ecommerce predicted to grow 28%

In spite of the financial crisis that severely impacted Chinese economy ecommerce market players like Alibaba.com are predicted to show high growth rates over the following several years. IDC China, an internationally renowned market research company, recently released a white paper on China's e-commerce service sector where the agency notes that ecommerce businesses will create a large number of employment opportunities in the country.

Estimates of IDC show that overall e-commerce transaction volume in 2008 totaled 1.951 trillion yuan, of which B2B volume maintained a growth rate of around 20%. Transaction volumes of B2C and C2C in 2008 maintained a growth rate of around 30%. The rates were reported against the background of slumping economy environment and depressed market confidence.

IDC forecasts China's total e-commerce transaction volume will reach 2.51 trillion yuan in 2009 and 3.22 trillion in 2010. Thus, annual growth rate will make up 28% which makes ecommerce sector the most impressive landmark in the Chinese economy in the next two years.