Analysis of the e-commerce market in China

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Abstract

The rapidly spreading digital technologies have destroyed traditional ways of doing business, giving birth to a new business model - e-commerce, which has become a crucial feature of international trade. Currently, global e-commerce, as an innovative tool for cross-border purchase and sale of goods and services, provides almost unhindered access to international markets, facilitates business transactions, and responds quickly and easily to changes in consumer demand. E-commerce has become the backbone of China’s economy; it has changed the country’s economic landscape, reaching CHY 44 trillion, accounting for 27.6% of retail sales. The features of e-commerce enable residents of remote rural areas to purchase the same goods at the same price on the same platform as metropolis residents. China’s e-commerce has allowed millions of small and medium-sized enterprises to adapt to changes in market conditions and become exporters by joining the platforms of leading companies JD, Pinduoduo, Taobao, Tmall, etc. The experience of China is a useful lesson for most developing countries, which could also use e-commerce to guarantee their economic growth provided that they adopt the right policy and invest in digital infrastructure. The theoretical and practical signifi of studying Chinese experience in developing the ecommerce market, as well as insuffi research and incomplete comprehensive analysis of its functioning and immediate prospects in modern international economic relations, make the research topic relevant. The article analyzes the change in the volume of e-commerce transactions in China in the B2C and B2B sectors; traces the dynamics of cross-border ecommerce; identifi factors infl the rapid growth of the Chinese e-commerce market; defi the prospects for the development of Chinese e-commerce; basing on Chinese experience, highlights the factors that can stimulate the growth of the e-commerce market in the Republic of Belarus and the Russian Federation.

About the authors

Galina G. Goloventchik

Belarusian State University

Author for correspondence.
Email: goloventchik@bsu.by
ORCID iD: 0000-0001-9074-1707
SPIN-code: 6339-6810

Candidateof Economic Sciences, Associate Professor, Associate Professor of the Department of International Economic Relations, Faculty of International Relations

20 Leningradskaya St, Minsk, 220030, Belarus

Zimin Meng

Belarusian State University

Email: mengzimin1201@gmail.com
postgraduate student of the Department of International Economic Relations, Faculty of International Relations 20 Leningradskaya St, Minsk, 220030, Belarus

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Copyright (c) 2024 Goloventchik G.G., Meng Z.

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