Growth in online sales highlights the opportunities in China’s new economy

China’s online retail sales have rapidly expanded in recent years, as rising disposable incomes and growing internet penetration have supported the sector’s growth.

This trend was highlighted by the recent Singles’ Day sales – November 11 – which set a new global record for online sales, making it the biggest global online shopping day of the year. That said, Singles’ Day is only part of the broader growth in China’s online retail sector – which is expected to account for 40% of global online sales this year.

Growth in online sales also points to the stronger performance of China’s services sector, relative to the deterioration in heavy industry.

For more details, please see the attached document.

China Economic Update December (PDF, 102KB)