Feeds

China wants global ecommerce crown

Gov to 'guide' industry to £1.4tr in sales by 2015

High performance access to file storage

China has revealed ambitious growth plans to lead the word in e-commerce, quadrupling web sales to reach 18 trillion (£1.4tr) by 2015, but laid out a strict new set of policy measures to get there.

A lengthy missive sent from the Ministry of Industry and Information Technology (MIIT) outlines the country’s 12th ‘five year plan’ for e-commerce which, bizarrely, began last year and runs to 2015.

It claims that quadrupling e-commerce sales in the period from a total of 4.5tr yuan at the end of 2010, is eminently do-able given the rapidly developing mobile internet, cross-border trade, the SME sector and the online payments industry which raked in 1.01tr yuan in 2010.

However, it warned that certain areas would need tightening up in order to drive growth in the industry, in particular payment systems and online security, including a clamp down on the sale of "counterfeit and shoddy goods".

To that end, the ministry released a ten point plan outlining where it aims to take action.

These include a crack-down on illegal ecommerce; improving consumer rights; enhancing e-commerce laws; regulations and standards; developing improved statistical monitoring of the market; accelerating staff training and improving international co-operation.

These might sound like fairly common sense measures given the relative immaturity of the market in China, but as TechInAsia explains, the shadow of government interference looms large, with the Chinese word for “oversight/monitoring” appearing at least 17 times in the report.

Hitherto, the Chinese government has taken a much more hands-off approach to e-commerce than in other aspects of the web such as social media, where the potential for political and social disruption is more pronounced and strict vetting of content is applied.

A Boston Consulting Group report last week described “unfettered growth” in the region and predicted China’s CAGR for 2010-2016 in terms of its “internet GDP” would be fifth globally at 17.4 per cent, with the UK out in front.

However, China doesn’t like to be that far behind at anything.

With question marks over online payment security and stability and the reliability of delivery systems still causing problems for customers and hampering growth in the sector, the authorities have obviously felt the need to step in.

Domestic success stories such as Taobao and Dandang will be braced for what comes next. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.