Taiwan's e-commerce sector will reach NT$6.6 trillion (US$22.6 billion) in 2012 as it continues to tap China to grow its market value.
Xinhua reported Monday the market value growth is a 17 percent spike over last year's figures, and it is expected to top NT$1 trillion (US$34.3 billion) in three years' time.
According to Taiwanese economic authorities, China will be a key market to sustain the growth of its e-commerce market--one of the few in the country growing despite a weak global economy. As such, local officials have initiated a program to promote Chinese language e-commerce and transaction safety to educate Taiwanese online vendors on how to better penetrate the market.
Taiwan and China will also hold discussions on issues hindering the former's companies from entering the market, including customs clearance and obtaining business certificates for Internet content providers, the report noted.
Industry watchers earlier noted overseas e-tailers will need to establish their supply chain and logistics infrastructure in order to better serve China's domestic market, and these shortcomings tend to hinder high-volume e-commerce trading.