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Article: Taobao.com Announces 2008 Full-Year Key Metrics Transaction volume grew 131 percent
- Article from:
- abnnewswire.net
- Article date:
- February 11, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Taobao.com, China's largest consumer e-commerce company, reported today that its transaction volume (gross merchandise volume) reached RMB 99.96 billion (US$14.62 billion) in 2008, a 131 percent year-on-year increase. Taobao's transaction volume for 2008 exceeded the sales volume of China's largest mass retailer, and equals approximately 1% of China's total retail trade in 2008, according to statistics released by the Chinese Ministry of Commerce.
"Taobao's strong growth in 2008 was driven by a number of factors including the strong growth of Internet usage in China, the increasing penetration of domestic e-commerce and the investments made by Taobao to ensure the overall experience of our ...