China B2B e-commerce market revenue has exceeded RMB4.53 billion (US$740 million), an increase of 6.1% from the prior quarter in the same year and by 57.29% from prior year period according to the latest data from Enfodesk.
Alibaba still has the largest B2B market share of 44.82%, followed by HC360.com of 4.53% and Made-in-China.com of 3.21%.
There are several reasons China’s online B2B market saw growth in the second quarter. First, influenced by the impact of the macroeconomic environment, Chinese GDP grew slightly compared with the first quarter in 2014 and the international trade trend has transformed from negative to positive.
Secondly, purchasing habits of Chinese consumers are influence by the wave of e-commerce in China, and with increased trust to network with other businesses, some were trying to obtain business opportunities online.
Finally, with the increasing demand of online transactions among e-commerce businesses, the service on B2B platform continues to strengthen its capabilities. Dealing with business procurement, sales, logistics and other business processes with partners, this platform would provide efficient and accurate service.
Highlights of China Online B2B in Q2 2014
- Traditional operation system is improving gradually, big data-based, value-added service increases vitality to the market. With the analysis of the suppliers’s data on the platform, the buyers can easily recognize them in the large market which increases the possibilities for the business.
- Companies increase market credits and promote statues to strengthen their brands in the big data-based B2B market.
- The next breakthrough on B2B market: payment security, control for certification and bank payment.
Alibaba vice president revealed in public early this year that Alibaba B2B platform 1688.com achieved daily transaction of 300 million yuan (USD 49.1 million). With the recovering global economy and support from the government agency for international trading, global B2B market is heading towards a promising future.
Read more: China Online B2B Market Update for 2013
