China has been the world's largest online retail market for 12 years in a row, with such sales reaching 15.5 trillion yuan ($2.16 trillion) last year, according to the country’s commerce ministry.
The country’s wholesale and retail industries have made steady progress driven by various policies, providing strong support for expanding domestic demand and forging a new development paradigm, vice commerce minister Sheng Qiuping told a press conference.
The added value of the wholesale and retail industries reached $1.9 trillion in 2024, accounting for 10.2 per cent of the gross domestic product and playing a key role in smoothing circulation, creating jobs and reducing logistics costs.
Sheng said the added value of the wholesale and retail industries reached 13.8 trillion yuan (~$1.9 trillion) in 2024, accounting for 10.2 per cent of the gross domestic product and playing a key role in smoothing circulation, creating jobs and reducing logistics costs, according to a state-controlled news outlet.
Fibre2Fashion News Desk (DS)