China Daily reported that China is aiming to double the value of e-commerce sales to 18 trillion yuan or ($2.86 trillion) by the end of 2015 to become the clear leader in global e-commerce.

The goal resulted from the 12th 5-Year Plan released on Tuesday by Ministry of Industry and Information Technology, the nation’s top industry regulator.

As China virtually manufacturers everything, they are looking for more ways to sell all of the products. For a long time, China was used by the rest of the world as the cheap manufacturing factory due to its cheap labour pool. But now more sophisticated, Chinese are taking advantage of the internet to move up the value chain and sell directly themselves, cutting out many foreign retailers.

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Jason Lim

Jason is an Australian born Chinese living in Beijing, specializing in entrepreneurship, start-ups and the investment eco-system in China, especially in the tech and social area.