E-Commerce of China: its Reasons for Success and Current Development Trends

Abstract

E-commerce is one of the highly digitalized industries, which quickly changes the way people buy products and use companies’ services. There are many countries in the world economy now that are trying to adapt informational and communication technologies in various industries to stay competitive and use nowadays’ benefits of the Internet, etc. The article considers the e-commerce in China – global leader in the industry. The content of the Chinese e-commerce development foundation, as well as its characteristic features and trends are described. Moreover, recommendations on e-commerce development are given, in particular, for the Republic of Belarus. The novelty of the research conducted lies in the fact that it is the first in the Belarusian practice, which is based on a large array of factual data, and reflects comprehensive analysis of the current state of the Chinese e-commerce, the prerequisites for its rapid development over the past decade and its prospects in the foreseeable future.