China

China

General Information

  • Population 1,439.3bn
  • Population 15 + 1,154bn
  • Online Population 938.4m
  • Area 9,596,961 km2
  • Currency CNY
  • GDP 14772.8bn USD
  • GDP per Capita 10,484 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"12"},{"label":"Cash-based payments","value":"3"},{"label":"Bank transfer","value":"5"},{"label":"Wallets","value":"72"},{"label":"Other","value":"8"}]
Banked population
  • China 80%
  • Asia Pacific 71%
  • World 67%
Credit card penetration
  • China 21%
  • Asia Pacific 13%
  • World 19%
Internet penetration
  • China 65%
  • Asia Pacific 60%
  • World 62%
Smartphone penetration
  • China 73%
  • Asia Pacific 71%
  • World 70%

Chinese consumers love shopping during live streaming sales with 20% of shoppers buying directly during one of these events. However, as the Chinese state is starting to clamp down on live streaming it will be interesting to see how this affects this portion of retail.

China’s ecommerce is done primarily via the mobile. China has
1.6 bn mobile phone subscriptions. Chinese consumers expect to be able to communicate directly with brands when they need questions answered.

China’s economy rose by 2.3% in 2020 and is forecast to grow by 8.4% in 2021 and 5.6% in 2022 according to the IMF. Inflation also rose in 2020 by 2.4% and is expected to rise by 1.2% in 2021 and 1.9% in 2022.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 2111.7
2022 2411.2
2023 2701.1
2024 2994.6
2025 3278.7
E-Commerce spending per capita ($US)
2021 1500
2022 1708
2023 1910
2024 2115
2025 2312
E-Commerce spending as % of GDP
2021 12.3
2022 13.0
2023 13.5
2024 13.9
2025 14.1

China

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Health & Beauty: 27% | 22%
  2. Toys, DIY, & Hobbies: 16% | 22%
  3. Food & Drink: 5% | 17%
  4. Electrical Goods: 17% | 16%
  5. Homeware & Furniture: 13% | 10%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 4%
  2. Value of cross-border e-commerce ($US billion) – 79.2
  3. % of online shoppers who have shopped cross-border – 47%

Top 3 cross-border shopping origin markets

  1. Japan: 28%
  2. USA: 17%
  3. Hong Kong: 10%
E-commerce % of total retail
  • China 45%
  • Asia Pacific 23.8%
  • World 20%
E-commerce completed on a mobile device
  • China 64%
  • Asia Pacific 59%
  • World 53%

The Credit Card Split

  • Local Schemes
[{"label":"Local Schemes","value":"100"}]
  • E-commerce market size ($US billion) 1801.3bn USD
  • E-Commerce spending per capita ($US) 1,283 USD
  • E-commerce spending as % of GDP 11.5%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

China

Local Payment Methods

Alipay Type Wallet Regions Asia Pacific Market relevance High BitPay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High WeChat Pay Type Wallet Regions Asia Pacific Market relevance High Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Baidu wallet (Baifubao) Type Wallet Regions Asia Pacific Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Masterpass Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High QQ Wallet Type Wallet Regions Asia Pacific Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Samsung Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High WebMoney Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 1 Market relevance High AstroPay Type Prepaid voucher Regions Asia Pacific, Middle East & Africa, South & Central America + 1 Market relevance Medium Huawei Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS Market relevance Medium Mi Pay Type Wallet Regions Asia Pacific Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Wallet One Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 2 Market relevance Medium Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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