China’s online retail sales increased by 29.9% to 289.3 billion RMB ($44.7 billion) in Q1 2021 due to the country’s steady recovery from COVID-19. According to a recent report by the Ministry of Commerce, the online retail market is expected to maintain a steady growth rate of 10% and exceed 13 trillion RMB in market size in 2021.
China’s effective control and containment of the pandemic has enabled businesses to reopen and daily life to return to normal for most Chinese citizens. The country’s economy was one of the few to record positive growth in 2020 and saw GDP grow by a record 18.3% year-on-year in the first quarter of this year.
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