China to further stimulate e-commerce

China will encourage more e-commerce to try to bring online retail sales up to 10 percent of the total retail sales of consumer goods, according to the Ministry of Commerce (MOC) on Thursday.

China will expand e-commerce, with a focus on key areas including retail, cross-border trade, agricultural products and the service sector.

By 2015, e-commerce transactions are expected to exceed 18 trillion yuan (2.93 trillion U.S. dollars).

By then, exports and imports via e-commerce could amount to at least a 10-percent share of total trade. Online retail sales will account for at least 10 percent of annual sales of consumer goods.

The ministry will provide policy and financial support for manufacturers and foreign enterprises conducting cross-border e-commerce, particularly the small and medium businesses.

Domestic e-commerce will be encouraged to look outward, including establishing overseas agencies, improving offshore warehouse logistics and customer service, and cooperating with foreign counterparts.

The MOC also called on local authorities to attract more private investment into the e-commerce sector.