China’s Online Shopping Transactions Boom

%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20saw%20surging%20online%20shopping%20in%20the%20second%20quarter%20of%202013%20with%20transactions%20totaling%20437.13%20billion%20yuan%20%28about%2070.8%20billion%20U.S.%20dollars%29%2C%20showed%20new%20data%20on%20Sunday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20figure%20was%20a%2024.2-percent%20quarter-to-quarter%20increase%2C%20and%20a%2045.3%20percent%20year-on-year%20increase%2C%20according%20to%20a%20research%20report%20released%20by%20iResearch%2C%20China%27s%20leading%20Internet%20industry%20research%20company.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAccording%20to%20the%20National%20Bureau%20of%20Statistics%2C%20total%20retail%20sales%20of%20consumer%20goods%20amounted%20to%206.03%20trillion%20yuan%20nationwide%20in%20the%20period.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThis%20indicates%20that%20online%20shopping%20now%20accounts%20for%20about%207.3%20percent%20of%20consumer%20retail%20in%20China.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIn%20the%20second%20quarter%2C%20China%27s%20E-commerce%20giants%20initiated%20several%20rounds%20of%20collective%20price%20wars%20to%20stimulate%20consumption.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAccording%20to%20the%20iResearch%20report%2C%20the%20price%20war%20has%20developed%20from%20a%20means%20of%20competition%20into%20a%20market%20tool%20used%20by%20E-commerce%20companies%20to%20tap%20and%20stimulate%20customers%27%20purchasing%20desire.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ECustomers%27%20online%20shopping%20behavior%20will%20become%20more%20and%20more%20rational%20with%20declining%20sensitivity%20on%20the%20price%20war%2C%20it%20added%2C%20suggesting%20that%20E-commerce%20companies%20gain%20core%20competence%20by%20improving%20their%20sales%20platform%20and%20supply%20chain.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28CRI%20English.com%29%3C/FONT%3E%3C/P%3E