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The Volume Of Online Trade-In Chinese Haikou In The First Half Of The Year Exceeded $11 Billion

The Volume Of Online Trade-In Chinese Haikou In The First Half Of The Year Exceeded $11 Billion

The volume of online trade-in Haikou city (the administrative center of the southern Chinese province of Hainan) in the first six months of this year exceeded 77.1 billion yuan (about $11.02 billion), which is 1.4% more in annual terms, according to the newspaper "Hainan Zhibao."

According to its data, the share of wholesale trade and trade in the b2b segment (business for business) accounted for 76.5% - 58.9 billion yuan (about $8.42 billion) - of the total volume of online Haikou trading in January-June.

The remaining 18.2 billion yuan (about $2.6 billion) - 23.5% of the total - is accounted for by retail trade in the network. Of these, 15.9 billion yuan (about $2.27 billion) - trade in goods, 2.3 billion yuan (about $328.6 million) - services.

The volume of online trade-in Haikou in the first half of this year amounted to more than 70% of the total turnover of Hainan province.

The development of e-Commerce in Hainan is an integral part of the Chinese government's plan to turn this tropical province into an "international center for tourism and consumption." Online events are regularly held on the island to stimulate consumer spending. Major e-Commerce platforms such as TMall, Taobao, and others take part in them. For example, in the period from June 1 to June 18, the local administration promoted a large-scale Internet campaign, during which total sales exceeded 1.4 billion yuan (about $197.8 million).

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