China’s Retail E-commerce Market Grows 14.8% in 2020, World’s Largest for Eighth Year Running


China saw robust growth in its e-commerce market in 2020 amidst the turmoil of the COVID-19 pandemic.

In 2020 nationwide online retail sales of real goods in China totalled 9.8 trillion yuan (USD$1.51 trillion) for YoY growth of 14.8%, according to data released by the Ministry of Commerce (MOFCOM).

This sales amount accounted for 24.9% of all retail sales of consumer goods, and made China the largest market for online retail sales in the world for the eighth year running.