New online-payment systems lead to boom in Chinese Ecommerce

[Kristijntje]

Online shopping has long been the laggard of the Chinese Web. While ad-driven outfits such as search company Baidu.com and portal Sohu (SOHU) have seen revenues—and stock prices—soar, China's e-tailers have had a rougher time. One big reason is credit cards: It's tough to sell online in a country where few people have them, and those who do are reluctant to use them for fear of fraud. Consumers who actually shop on the Web typically opt for a solution that's both expensive and inconvenient for merchants: paying cash on delivery.

But now, business for China's online retailers is picking up. Consumer e-commerce in the country will top $1billion in 2007 and grow at an average of 34% annually over the next three years...

full article: http://www.businessweek.com/globalbiz/co...gn_id=yhoo

[Meribah]

I still would prefer buy at the physical stores when buying chinese products