News about Ecommerce Market in China !
The largest operator Sun Art Retail Group hypermarket China is booming on the web. Sun Art Retail Group has established Uitox E-Trade (Shanghai) Co Ltd to sell online. The grocer wholly owned subsidiary Concord Investment (China) Limited acquired a 65 per cent in e-commerce with the help remaining 35 percent by the company Hong Kong Limited Excellent first. Uitox has a registered capital of 100 million yuan (16.3 million U.S. dollars). According to China Merchants Securities, Sun Art still needs time to explore how to make use of its advantages in traditional networks of retail given the fierce competition in the e-commerce industry. Sun Art Retail Group operates more than 273 supermarkets under several banners RT-Mart and Auchan Other supermarket growth very fast focus on expat food. (example)
RegulationChina is moving forward with the law, it will have an impact on a national broadband e-commerce companies and foreign term. They include research portal Baidu (BIDU), the site operator Qihoo 360 Technology (QIHU), Taobao e-commerce group Alibaba, e-tailer Dangdang (DANG) and (AMZN) site, China's Amazon unit Amazon.cn. EBay (EBAY) is also expanding its presence in the market of e-commerce in China.
Biggest playersChina is drafting its first bill to regulate 190 billion on e-commerce market in the country, says an article in China Daily. The government newspaper quoted Liu Hongliang, head of market regulation at the State of the China Industry and Commerce Administration, in a story Monday as saying that the legislation on operations and services online been placed on the agenda by both legislative bodies in the 12th National people's Congress.
Liu said that the law will address issues such as unfair competition, lack of protection of intellectual property and tax evasion. Liu did not give a timetable for when the project is planned to pass legislation.