Zhoushan targets 10b yuan in annual online retail sales by 2022

Annual online retail sales in Zhoushan, East China's Zhejiang province are projected to exceed 10 billion yuan ($1.52 billion) by 2022, according to the local municipal bureau of commerce on Nov 29.

In the first 10 months of this year, online retail sales in the city reached 5.64 billion yuan, a year-on-year increase of 25.8 percent, and are expected to exceed 8 billion yuan by the end of this year, including 150 million yuan in exports.

During the Double Eleven shopping festival this year, Zhoushan's online retail sales amounted to more than 370 million yuan.

In recent years, the sales revenue of e-commerce traders in Zhoushan has performed well.

Annual online retail sales in the city grew from 3.52 billion yuan in 2017 to 7.06 billion yuan in 2019, an average annual increase rate of 41.6 percent.

Zhoushan currently houses more than 1,300 online stores and roughly 15,000 local residents are engaged in e-commerce-related work.

However, the e-commerce industry in the city also has shortcomings, including small amount of e-commerce businesses and slow development of cross-border e-commerce.

According to the commerce bureau, to solve these problems, in the following five years, Zhoushan will focus on the construction of cross-border e-commerce industry parks and promote the further integration of e-commerce and manufacturing, tourism, fishing, and agricultural industries.