China m-commerce spending to reach CNY 170Mn by 2011

www.WirelessFederation.com/news: According to a report, China’s mobile e-commerce revenues will mount by 130% from EUR 2.52 million (CNY 24 million) in 2008 to EUR 5.78 million (CNY 55 million) in 2009. Mobile commerce spending is anticipated to reach CNY 170 million by 2011 in the region. The mobile shopping market growth is attributed to the increasing mobile phone internet user base, which reached 120 million in February, up 133 percent year-on-year.

Furthermore, e-commerce volume is predicted to reach CNY 2.51 trillion in 2009 and CNY 3.22 trillion in 2010, as compared to CNY 1.61 trillion in 2007. As per the statistics, almost 100 million shoppers made online purchases, in 2008, up b 185% in 2007 and is estimated to account for over 40% of China’s overall internet subscribers by 2010.