China's E-commerce GMV Surpassed 20 Trillion Yuan in 2016

Source:iResearch February 04,20172:18 PM
According to iResearch,China’s e-commerce GMV totaled 20.2 trillion Yuan in 2016, increasing by 23.1% compared with 2015. Online shopping with growth rate of 23.9% and local life O2O with growth of 28.2% were important roles which fueled the development of e-commerce in 2016.  
In China's e-commerce GMV, B2B accounted for over 70% and still are the principal part of the market. Small and medium-sized enterprises' (SMEs) B2B, online shopping and online travel all experienced slight growth in market share from 2015.
According to iResearch, the revenue of China's B2B platforms for medium and small-sized companies attained 23.59 billion Yuan in 2016, growing 17.1% from 2015. Online shopping GMV hit 4.7 trillion Yuan, rising 23.9% from 2015, which showed a decelerated growth. Online travel GMV reached 602.6 billion Yuan in 2016, climbing 34.3% from 2015. The GMV of local life O2O market reached 327.1 billion Yuan in 2016 with a growth of 28.2%.
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