China’s booming e-commerce industry has experienced another year of steep growth in 2014. The transaction volume of the e-commerce market totaled 16.39 trillion RMB ($2.6 trillion USD) in 2014, surging 60% YOY, according to data released by the National Bureau of Statistics (NBS).

China’s e-commerce frenzy is encouraging domestic companies, big and small, to jump on board with 2B online shopping. The report revealed that the transaction volume of e-commerce targeted at enterprises soared 62.8% YOY to 12.75 trillion RMB in 2014, of which 12.25 trillion RMB is attributable to products and 0.50 trillion to services.

The e-commerce market for individual customers was worth 3.64 trillion RMB in 2014, up 48.6% YOY from the preceding year. Of the total amount, consumer goods account for 2.88 trillion RMB and services represent 0.76 trillion RMB.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.