A population of more than 1.3 billion. A middle class 200 million strong and growing. More than 450 million internet users, including 150 million online shoppers. As China's remarkable growth continues, conditions for e-commerce are improving.
The Ministry of Commerce said in a report released Tuesday that, in 2011, the transaction volume of China's overall e-commerce business grew by 29.2 percent, reaching a stunning 5.9 trillion yuan. The equivalent of one eighth of the country's GDP that year.
China will surpass Japan in 2012, and the U.S. by 2013, making it the world's largest online trading market. But experts are warning consumers to remain vigilant against rampant online fraud, as law enforcement in the sector is still weak.
Around 25 percent of internet users have reportedly had money taken from their accounts without their authorization. Almost 39 million have reportedly experienced fraud while shopping online.