Know which country is No. 1 in online trading globally

Zee Media Bureau

China has outstripped the rest of the world in online retail transactions to become the world`s largest online retail market.

As per media report, China`s online retail trade ranked first globally from January to October, with a total of about USD 455 billion in online transactions. The claim was made in a report titled "Internet Development In China Over the Last Two Decades", according to the People`s Daily.

From January to October 2015, total online transactions reached 2.95 trillion yuan.

There are four Chinese companies listed in the world`s top 10 internet companies: Alibaba, Tencent, Baidu and JD.com.

Growth of online retail sales comes from the parallel rapid development of mobile internet in China. As of June 2015, China`s mobile phone users numbered 594 million, accounting for 88.9 percent of all netizens.

Among 374 million online shoppers in China, 270 million make online purchases using mobile phones. The development of mobile internet has also brought great changes to travel, car rental, takeout and medical services.

With Agency Inputs