China’s online retail market records steady growth in 2022, with sales up 4%

China’s online retail market saw steady growth in 2022, with online retail sales rising 4 percent on-year to nearly 13.8 trillion yuan (2.04 trillion U.S. dollars), according to data from the Bureau. National Statistics Office (NBS), cited by the country’s Ministry of Commerce on Monday.

In the breakdown, online retail sales of physical goods rose 6.2% year-on-year, the Ministry of Commerce (MOFCOM) said.

Among the 18 categories of goods monitored, eight posted double-digit sales growth rates, the ministry said.

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Domestic online retail sales of agricultural products rose 9.2 percent last year to 531 billion yuan, up 6.4 percentage points from 2021, MOFCOM said.

Meanwhile, China’s cross-border e-commerce reached 2.11 trillion yuan, up 9.8 percent year-on-year, according to MOFCOM citing NBS data.

Last year, the country’s total retail sales of consumer goods fell 0.2% from a year earlier, but December data showed a recovery in consumer spending.

Article republished from the Chinese state media CGTN within the framework of an agreement between both parties to share content. Link to the original article: https://news.cgtn.com/news/2023-01-30/China-s-online-retail-market-sees-steady-growth-in-2022-sales-up-4–1h0R9a1WUdW/index.html