Shanghai is shaping to upgrade itself into an online shopping centre to parallel the city's "real" shopping reputation, particularly since it's already a leader in e-commerce.
At a forum as part of the 2011 International E-Shopping Fair 2011, a senior official with the city's local government spoke of major developments to come in the online space.
Sha Hailin, Deputy Secretary-General of the Shanghai Municipal Government and Director of the Municipal Commission of Commerce, said that in the years to come Shanghai would pick up the pace developing online shopping, building third-party and public service platforms.
In short, Sha's idea is for Shanghai to establish itself as an e-commerce hub for the Asia-Pacific.
The Ministry of Commerce (MOFCOM), said China's e-commerce market was worth Rmb4.5 trillion in 2010, of which online retail sales reached Rmb500 billion, accounting for over 3% of total retail sales of consumer goods.
Online shopping, as an integral part of e-commerce, is growing at a remarkable rate of 100% a year.
Nie Linhai, Deputy Supervisor of the electronic commerce and information section under MOFCOM, told the forum that the 12th Five-Year Programme period would see the share of total retail online consumer shopping nationwide would exceed 5% and regions with an early start in e-shopping would take a share of over 10%.
As one of the cities with the fastest growth of e-commerce, Shanghai has already met the 5% target.
Gu Jiahe, Secretary-General of the Shanghai Municipal Commission of Commerce, pointed out that from 2002 to 2010 e-commerce grew 15 fold in eight years in the city. Shanghai is now building a national e-commerce model
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