China has recently set up an e-commerce credibility evaluation
center in an effort to facilitate the healthy growth of online
businesses, according to the Chinese E-commerce Association.
The center will help to certify whether an online shop really
exists and operates lawfully, whether it protects the customers'
private information and if it handles businesses correctly, said
the association's president Song Ling.
The companies involved will be given a credibility rating, which
the customers can find on the center's website, said Song.
Experts believe that the effort will address the problem of a
lack of credibility which hinders the development of e-commerce in
China.
China's e-commerce had seen 600 billion yuan (about US$74.5
billion) of transactions by the end of 2005, but business was often
marred by a lack of credibility and payment difficulties.
In comparison, 93 percent of American buyers give priority to
credibility when purchasing on-line and three quarters of buyers
choose only to buy from companies with a high credibility
rating.
(Xinhua News Agency March 14, 2006)