China Securities Journal, 9/19/08
During H1 2008, the total volume of transactions on Chinese C2C and B2C e-commerce site Taobao exceeded RMB 41.3 bln, nearing the 2007 full-year total of 43.3 bln, up 263% over H1 2007's RMB 15.7 bln in transactions, and higher than both the H1 2007 and full-year 2007 growth rates of 200% and 156%, respectively.
During Q2 2008, Taobao hosted RMB 22.5 bln in transactions, up 259% over Q2 2007's RMB 8.7 bln, and up 170% over the total for Q1 2008.
Taobao figures show rapid growth in Fujian, Shandong, Hubei, Liaoning, Sichuan and other second- and third-tier regions as they grow to become a driving force in online shopping - accounting for approximately half, in total, of all online transactions.
As of June 2008, Taobao had 71 mln registered users, or about 30% of China's internet population, up 178% over the 2007 figure of 40 mln.