China has maintained its position as the largest online retail market in the world for the 12th consecutive year, with online retail sales reaching 15.5 trillion yuan (approximately 2.16 trillion U.S. dollars) in 2024, according to data released by the Ministry of Commerce.

This continued growth underscores the country's dominant position in global e-commerce and highlights the ongoing development of its digital economy.The wholesale and retail sectors have shown steady growth, fueled by supportive government policies that aim to boost domestic demand and create a new development paradigm.

Vice Commerce Minister Sheng Qiuping emphasized that the added value of the wholesale and retail industries amounted to 13.8 trillion yuan in 2024, representing 10.2 percent of China's GDP. These industries have played a crucial role in facilitating smoother economic circulation, creating jobs, and lowering logistics costs.The Ministry of Commerce is committed to further enhancing policies to support the high-quality development of China's wholesale and retail industries, aiming to continue improving the efficiency of the national economy.

This focus on policy implementation and industry innovation seeks to maintain momentum for sustainable growth in the retail sector and broader economy.