22 July 2018

Jan-Sept online sales of key retail firms up 34.7%, Xinhua says

China’s 3,000 key retail firms saw a 34.7 percent year-on-year increase overall in online shopping sales for the first nine months of 2013, Xinhua news agency reported Wednesday, citing Wang Desheng, a deputy director-general at the commerce ministry. China’s traditional retail industry has entered a new phase of innovation and transformation, Wang said. Firms face various challenges, including rising costs, a domestic market slowdown and huge competition from electronic commerce.

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