China's e-commerce trade over 16 trillion yuan

China's e-commerce industry has soared over 16 trillion yuan ($2.68 trillion) in 2014 due to improved internet infrastructure and increase in cellphone users.

Transaction volume of Chinese e-commerce platforms totalled 16.39 trillion yuan ($2.68 trillion) in the last year, up 59.4 percent year on year, Xinhua news agency reported on Monday citing data from the National Bureau of Statistics.

SEE ALSO: Samsung Galaxy A8 with meta-body, octa-core chipset, fingerprint scanner launched for Rs 32,500

Confronted with sluggish domestic demand, China is counting on e-commerce to lead a new wave of consumption and prop up economic growth.

Source IANS