China’s E-Commerce Market Leads Globally for 12 Consecutive Years
China’s e-commerce retail market recorded a 7.2% growth in 2024, reinforcing its global leadership in the sector.
China’s e-commerce retail market recorded a 7.2% growth in 2024, reinforcing its global leadership in the sector. For the 12th consecutive year, the country retained its title as the world’s largest e-commerce market.
At the National E-Commerce Conference held in Beijing, officials reviewed China’s e-commerce performance in 2024, analyzed development trends, and outlined key priorities for 2025. According to the Ministry of Commerce, China’s online retail sales reached 15.5 trillion yuan (approximately $2.16 trillion) in 2024. These figures confirm China’s position as the world’s largest online retail market for the 12th consecutive year.
Ministry of Commerce to Strengthen Supportive Policies
Speaking at a press conference, Vice Minister of Commerce Sheng Qiuping highlighted that the wholesale and retail sectors contributed 13.8 trillion yuan to the economy in 2024, accounting for 10.2% of China’s GDP. He emphasized that the sector played a crucial role in ensuring smooth market circulation, generating employment, and reducing logistics costs.
“The Ministry of Commerce will work closely with relevant departments to enhance supportive policies, implement targeted measures, and accelerate the high-quality development of the wholesale and retail industries,” Sheng stated. “These efforts aim to further streamline national economic circulation and drive sustainable growth,” he added.
China’s E-Commerce Sector Achieves Major Milestones
The conference also highlighted China’s achievements in digital transformation and the integration of e-commerce across multiple industries. Key topics included industrial e-commerce integration, Silk Road e-commerce cooperation, and strategic action plans for digital trade.
The Ministry of Commerce called for efforts to expand digital consumption, support industrial transformation, and foster high-quality international e-commerce cooperation. Additionally, it stressed the importance of strengthening digital governance and contributing to the long-term, high-quality development of the economy.
With steady policy-driven progress, China’s wholesale and retail industries have played a pivotal role in boosting domestic demand and shaping a new development paradigm.
- China’s E-Commerce Market Leads Globally for 12 Consecutive Years