The Zhitong Finance App learned that the head of the e-commerce department of the Ministry of Commerce introduced the e-commerce development situation in China from January to November 2024. According to data from the National Bureau of Statistics, online retail sales nationwide reached 14 trillion yuan in January-November, an increase of 7.4%. Among them, the physical goods network grew steadily at zero, with a growth rate of 6.8%. Trade-in and digital products are highlights. According to business big data monitoring, range hoods and smart home systems grew by 62.7% and 22.2%. Consumption of online services grew rapidly, at a rate of 18.3%. Among them, online dining and online travel increased by 48.2% and 18.2%. Yinfa's spending potential continues to be unleashed, and the number of travelers aged 55 and over on online travel platforms has nearly doubled.

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The head of the E-Commerce Department of the Ministry of Commerce introduced the e-commerce development situation in China from January to November 2024

From January to November, e-commerce continued to develop healthily in China, further boosting consumption, promoting the integration of real numbers, and injecting new momentum into the globalization of the inclusive and shared economy.

Online retail is growing steadily. According to data from the National Bureau of Statistics, online retail sales nationwide reached 14 trillion yuan in January-November, an increase of 7.4%. Among them, the physical goods network grew steadily at zero, with a growth rate of 6.8%. Trade-in and digital products are highlights. According to business big data monitoring, range hoods and smart home systems grew by 62.7% and 22.2%. Consumption of online services grew rapidly, at a rate of 18.3%. Among them, online dining and online travel increased by 48.2% and 18.2%. Yinfa's spending potential continues to be unleashed, and the number of travelers aged 55 and over on online travel platforms has nearly doubled.

E-commerce accelerates the digital transformation of the industry. The digitalization of industrial e-commerce empowers the production and supply chain and highlights the innovative efficiency of new quality productivity. Major e-commerce platforms are order-driven, accurate matching, and one-stop procurement to create an efficient and collaborative digital and chemical production supply chain, enhance the flexible manufacturing capabilities of small and medium-sized manufacturing enterprises, and help the scale of industrial product sales continue to expand. According to business big data monitoring, sales of the 10-billion-level industrial e-commerce platform grew steadily from January to November, continuously unleashing development potential.

“Silk Road e-commerce” promotes mutual benefit and win-win situation. The “Silk Road E-commerce” Cooperation Pilot Zone has built 7 new service carriers, including a financial service station and an international think tank alliance, to create a pilot environment for cultivating new productivity. The national “Silk Road Cloud Products” e-commerce week was held for the first time. Five themed events, including the Central Asian Style Cultural Tourism Festival and the Southeast Asia Coffee Festival, enriched the supply of high-quality products to help partner countries share the Chinese market. In November, sales of Uzbek candy and Indonesian coffee beans increased by 102.4% and 35.9% on e-commerce platforms.

This article was selected from the “Ministry of Commerce” official website, Zhitong Finance Editor: Liu Jiayin.