Boost for UK business in Chinese e-marketplaces

 

UK Trade and Investment (UKTI) has signed agreements with five Chinese e-marketplaces estimated to be worth £1 billion to UK companies over the next three years.

 

The signings took place at “China: The Retail Opportunity”, a one-day conference held in London as part of the Chinese State Visit when UKTI signed memorandums of understanding with the following e-marketplaces:

 

• JD Worldwide
• Netease/Kaola
• XIU.com
• Mogujie
• Ctrip

 

According to official figures, in China e-marketplaces account for 90% of all e-commerce transactions and Chinese consumers spent £367 billion online in the first quarter of this year alone. The agreements UKTI has signed should help UK companies take advantage of the massive e-commerce opportunities in China, with support from both UK government and the e-marketplace platforms themselves.