China gunning for international e-commerce dominance
29 March 2012 - 10:34 by Simon Crisp
The economic might and ever-increasing spending power of China is causing changes in a number of global industries, but now the government of this country has announced its intention to make the Chinese market for safe shopping online one of the biggest in the world.
Within the next three years, it hopes to grow China's e-commerce market to the point that it is worth £1.4 trillion annually, although in order to achieve this, it will be using typically stringent regulations to control online activities, according to The Register.
To achieve its goals, China will need to multiply its previous annual e-commerce turnover by a factor of four, which is certainly ambitious, although far from impossible.
Part of the potential for growth in China is made up of the increasing availability of mobile internet access, which means that citizens can use portable handsets to make online purchases, rather than having to rely on a PC and a fixed landline connection.
China will also be looking to trade with its neighbours through safe shopping online, because smaller surrounding nations will be able to benefit from the large market on offer.
Unsurprisingly, the Chinese government is going to be looking into the issues associated with the security of e-commerce sites and the transactions which are carried out by consumers, in order to make purchases.
China is known for the proliferation of sub-bar knock-off products based on famous brands and the government is hoping that it will be able to protect consumers, both domestic and international, from this type of item, through policy and legislation.
The authorities will be tackling fraudulent e-commerce sites and make it easier for a consumer to gain the kinds of rights that a Western shopper in the UK can typically enjoy right now.