E-commerce rakes up $2.68 tn in China despite slowdown

China's e-commerce raked up a whopping $2.68 trillion in 2014, registering a 59.4 per cent jump from the year before despite a slowdown in the world's second-largest economy. China's e-commerce trade soared in 2014 thanks to improved Internet infrastructure and an increase in cellphone users, state-run Xinhua news agency reported.

Transaction volume of Chinese e-commerce platforms totalled 16.39 trillion yuan ($2.68 trillion) in the last year, up 59.4 per cent year-on-year, data from the National Bureau of Statistics stated on Monday.Confronted with sluggish domestic demand, China is counting on e-commerce to lead a new wave of consumption and prop up economic growth. From cities to countryside e-commerce revolution is sweeping China as the number of Internet users went up to 668 million in China inthe first half of this year, with about 90 per cent of the usersaccessing it through mobile phones.