EBay: China will become an important member of E-commerce

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The chief executive of ebay, the world's leading online auctioneer, said recently in Beijing that China is becoming an important member of global E-commerce. Meanwhile, Yahoo announced plans to break into China's online trading market by the middle of 2004.

*ebay chief officer predicts the future

Ms. Whitman, the chief executive of ebay, known as the "online marketplace," is visiting Asia. In a speech to Beijing University in Thursday, she said China's e-commerce is developing rapidly and predicts that China will be an important area for 8084.html ">" in the global E-commerce industry in the next 10-15 years.

Ms. Whitman says China is increasingly becoming an important country for global e-commerce. Chinese consumers have quickly mastered ways to make online transactions work for them. Ms Whitman is particularly pleased with the rapid development of the ebay network. This is a regional online auction and trading system platform that ebay has acquired to meet the needs of the Chinese market. It is reported that "ebay" in the end of 2003 in China has registered users 4.3 million, online turnover of 124 million U.S. dollars. Ms. Whitman said ebay would continue to expand its investment in China to help China's e-commerce move towards success.

Meanwhile, "Yahoo", a "King of Search Engine", announced in Tuesday that it will open an online auction trading platform in China this year, with partners in Chinese "Sina" to compete with ebay in the Chinese market.

* Online business China still lacks hardware software

Experts believe that the current development of online transactions in China is the main obstacle to the problem of payment means, because China's social consumption habits are still mainly cash transactions. The relatively low rate of personal checks and credit cards has greatly hampered the eventual redemption of online transactions. In addition, there are many problems with the postal system in the delivery of goods. However, the entire transaction process is a personal integrity record. China does not yet have a sound system for recording individual economic behavior.