China E-Commerce to exceed US$1 trillion by 2019
Currently, more than 50,000 transactions are taking place per minute on Taobao. The average transacting amount is ¥120 (US$20). US$540 billion is expected in 2015, or 10% of total retail transactions in China. On 11/11/2014, China broke the record of the single largest one day transaction volumes in any country with US$9.3 billion. Many analysts predict that total e-Commerce & m-Commerce in China will exceed US$1 trillion by 2019.