Business

China e-commerce expands 60% in Q3

China's online retail transaction value grew 60 percent in the third quarter to 331.6 billion yuan (US$52.6 billion) as e-commerce companies and traditional home appliance retailers boosted their online sales.

Alibaba, whose Taobao C2C online shopping site and Tmall B2C retail platform, took up 75.5 percent of the market share, research firm Analysys International said in a report today.

360Buy held a 6.8 percent share while Tencent's online shopping unit grabbed a 4.4 percent share.