Chinese People Spend over 120 Billion Yuan Online

Every minute, 26 mobile phones, 266 pieces of clothing, 136 cosmetic products, 23 laptops, 60 pre-paid mobile phone cards and 48 books are sold online through taobao.com, China's largest online shopping website.

Last year, China's cyber-shoppers spent a total of 120 billion yuan online, up over 128 percent since 2007.

According to a report jointly released by iResearch and Taobao.com, online shopping has become more accepted. Chinese people are using it as a way to find cheaper and diversified products in light of the financial downturn.

The number of registered online shoppers reached 120 million in 2008, 83 percent of which are aged between 16 to 32 years old. People usually think their women love shopping. However, interesting research found that men spend more time and money online than women do. Their favoured goods are electronic products.

Source: CRIEnglish