China's online B2B transactions hit $466.7B

Country's business-to-business e-commerce transactions grows 13 percent year-on-year in first half of 2012, with Alibaba retaining market leadership.

Business-to-business (B2B) e-commerce transactions in China generated 2.95 trillion yuan (US$466.7 billion) during the first half of 2012, representing a 13 percent year-on-year growth.

According to a report by Sina Tech on Wednesday, the number of companies in China using B2B platforms exceeded 16.5 million during the six months period ended June. This helped service operators rake in 7.45 billion yuan (US$1.2 billion) in revenue during the same timeframe, it added, citing figures from China e-Business Research Center. 

Alibaba led the B2B market with 41.5 percent share, while the top eight e-commerce platform providers constituted 67.1 percent of the overall industry, it said. There are 10,950 platform operators in the market currently--which is a 7 percent year-on-year growth, it added.

The research also predicted the Chinese B2B e-commerce market will continue its growth momentum into the third quarter, and could possibly exceed the 1.8 trillion yuan (US$284.8 billion) mark.

In its 12th Five-Year Plan, the Chinese government set a goal of doubling the country's e-commerce transactions by 2015. The government hopes to generate 18 trillion yuan (US$2.8 trillion) in e-commerce transactions by 2015 with B2B transactions making up the majority share at 15 trillion yuan (US$2.4 trillion).


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