金融英语阅读：Transactions on Taobao grow sharply
Taobao.com, China's largest online retailer, saw transactions on its platform surging in 2010, a reflection of the country's burgeoning e-commerce market.Items sold on Taobao averaged 48,000 per minute, and transactions per user rose by 35 percent in 2010 compared to the previous year, the company said Thursday in a statement revealing its annual aggregate consumer data.
Coastal regions including Guangdong and Zhejiang provinces were the major areas generating high gross merchandise value (GMV) sales across the platform last year, while inland regions including Shandong and Hubei provinces saw substantial growth in their GMV, Taobao said in the statement.
Transactions through mobile phones also saw strong growth, spurred by the country's booming mobile Internet market. Mobile shopping via Taobao reached a single-day high GMV of 37 million yuan ($5.58 million) in 2010, according to the statement.
Market watchers said e-commerce in China is expected to continue the uptrend in years to come, while pointing out that the consumer-to-consumer model, banking on which Taobao raked in majority of sales, will gradually cede its position to business-to-consumer model.
Bus ine s s - to- consume r transactions accounted for only 8.7 percent of the country's total e-commerce transactions. The rate rose to 20 percent over the past year, and is expected to jump to 46.6 percent in 2013, says Analysys International.
Sales of the country's business-to-consumer market exceeded 100 billion yuan ($15.09 billion) in 2010, an increase of 373 percent over the previous year.
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