According to the statistics released by Shanghai Municipal Information Commission, the total e-commerce transaction of Shanghai reached CNY240.7 billion in 2007, of which the transaction of B2B business topped CNY200 billion for the first time.
The statistics show that Shanghai's e-commerce services are centralizing, with more than one-third of the companies doing their business online and such companies as Bao Steel, SAIC and Sinopec already possessing advanced e-commerce systems.
In addition, some online business giants have begun to integrate and cooperate by taking advantage of the Internet, which enables them to share resources without being limited by time and distance and helps them save costs. Some other e-commerce companies even take their steps out of China and have begun connecting international buyers with Chinese suppliers.
Shanghai plans to make its e-commerce transaction volume reach CNY340 billion during the 11th Five-year Period, with an annual increase of over 16%.