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China 360 Volumes China 360 Volumes Selected issues of KPMG’s “China 360” newsletter Content 1.0 E-Commerce in China: Driving a new consumer culture Edition 15 – January 2014 2.0 The emergence of Chinese multinational corporations (MNCs): Local and global implications Edition 13 – November 2013 3.0 The rise of the urban ‘post-90s’ generation in China Edition 12 – October 2013 4.0 Innovated in China: New frontier for global R&D Edition 11 – September 2013 About “China 360” China 360 is a monthly newsletter designed to keep readers up-to-date with topical issues in China. Each issue focuses on a separate topic, which may include current economic analysis, analysis of government and policy developments, and tips and practical advice on doing business in China or with Chinese companies. China 360 provides a well-researched point of view, insights and a ‚drill down‘ into China business topics hard to find elsewhere. If you are interested to receive new editions of KPMG’s “China 360” newsletter, please e-mail us: [email protected] or visit us online: www.kpmg.de/china ChinaChinaChina 360 360360 E-commerceE-commerceE-commerce in in in China: China: China: DrivingDrivingDriving a a newa new new consumerconsumerconsumer culture culture culture JanuaryJanuaryJanuary 2014 2014 2014 In China’sInIn China’s China’s e-commerce e-commerce e-commerce 12 12th 12 thFive-Year thFive-Year Five-Year Plan Plan Plan ThisThisThis month’smonth’s month’s China China 360360 360 breaksbreaks breaks down down down China’s China’sChina’s (2011-2015),(2011-2015),(2011-2015), the the theChinese Chinese Chinese government’s government’s government’s Ministry Ministry Ministry explosiveexplosiveexplosive e-commerce e-commerce growthgrowth growth within within within the thethe of Industryofof Industry Industry and and andInformation Information Information Technology Technology Technology unveiled unveiled unveiled business-to-consumerbusiness-to-consumerbusiness-to-consumer (B2C)(B2C) (B2C) and and and consumer-to- consumer-to- consumer-to- policiespoliciespolicies to tomake to make make China China China a aglobal aglobal global e-commerce e-commerce e-commerce consumerconsumerconsumer (C2C) (C2C) arenas.arenas. arenas. OfOf Of particular particular particular interest interestinterest leader,leader,leader, in inline in line linewith with with China’s China’s China’s transition transition transition from from from an an an areareare thethe the home-grown home-grown platformsplatforms platforms underpinning underpinning underpinning investment-heavyinvestment-heavyinvestment-heavy growth growth growth model, model, model, towards towards towards a a a thethethe riserise rise of of on-line on-line transactions,transactions, transactions, as as as well well well as asas the thethe moremoremore consumption-driven consumption-driven consumption-driven model. model. model. increasinglyincreasinglyincreasingly important important rolesroles roles of of of social social social media mediamedia andandand mobilemobile mobile devices. devices. These These These trends trends trends and and and others othersothers Nonetheless,Nonetheless,Nonetheless, the the thespeed speed speed at at which at which which the the the Chinese Chinese Chinese areareare fundamentallyfundamentally fundamentally re-shapingre-shaping re-shaping the the the ways ways ways Chinese ChineseChinese e-commercee-commercee-commerce industry industry industry has has has grown, grown, grown, and and and the the the way way way in in in consumersconsumersconsumers purchase purchase goodsgoods goods and and and services. services. services. whichwhichwhich it isit itaffectingis isaffecting affecting businesses businesses businesses and and and consumers consumers consumers hashas comehas come come as as a as surprisea asurprise surprise to to many: to many: many: by by theby the the end end end ThisThisThis articlearticle article also also highlightshighlights highlights the the the importance importance importance of ofof of 2013,ofof 2013, 2013, China China China will will willlead lead lead all all other all other other countries countries countries in in in knowingknowingknowing exactly exactly whowho who youryour your consumers consumers consumers are, are,are, how howhow B2CB2C and and C2C C2C purchases. purchases.1 Jack1 Jack Ma, Ma, founder founder theythey make make their their purchases purchases online, online, and and highlights highlights B2C and C2C purchases.1 Jack Ma, founder they make their purchases online, and highlights ofof Alibaba, Alibaba, was was recently recently quoted quoted as as saying: saying: “in “in somesome foreign foreign and and domestic domestic success success stories stories in in of Alibaba, was recently quoted as saying: “in some foreign and domestic success stories in otherother countries, countries, e-commerce e-commerce is isa away way to to shop, shop, thethe market. market. other countries, e-commerce2 2 is a way to shop, the market. inin China China it itis isa alifestyle”. lifestyle”.2 No No matter matter how how you you slice slice in Chinathethe numbers, numbers,it is a lifestyle”. trends trends or Noor forecasts, forecasts, matter howit’s it’s clear youclear thatslice that 1. He1. Wei.He Wei. ‘China ‘China set toset overtake to overtake US inUS e-commerce’. in e-commerce’. China China Daily. Daily. August August 28, 201328, 2013 the numbers, trends or forecasts, it’s clear that 1. Hehttp://usa.chinadaily.com.cn/business/2013-08/28/content_16927926.htm Wei.http://usa.chinadaily.com.cn/business/2013-08/28/content_16927926.htm ‘China set to overtake US in e-commerce’. China Daily. August 28, 2013 e-commercee-commerce is isbooming booming in in China. China. 2. http://usa.chinadaily.com.cn/business/2013-08/28/content_16927926.htm‘E-commerce2. ‘E-commerce in China: in China: Gain Gain entrance entrance into intoa completely a completely different different world’. world’. Group Group of Companies, of Companies, June June 16, 201316, 2013 e-commerce is booming in China. 2. ‘E-commercehttp://www.ptl-group.com/blogs/e-commerce-in-china-gain-entrance-into-a-completely-different-worldhttp://www.ptl-group.com/blogs/e-commerce-in-china-gain-entrance-into-a-completely-different-world in China: Gain entrance into a completely different world’. Group of Companies, June 16, 2013 http://www.ptl-group.com/blogs/e-commerce-in-china-gain-entrance-into-a-completely-different-world © 2014© 2014 KPMG KPMG International International Cooperative Cooperative (“KPMG (“KPMG International”), International”), a Swiss a Swiss entity. entity. Member Member firms firms of theof the KPMG KPMG network network of independentof independent firms firms are are affiliated affiliated with with KPMG KPMG International.International. KPMG KPMG International International provides provides no noclient client services. services. No No member member firm firm has has any any authority authority to obligateto obligate or bindor bind KPMG KPMG International International or anyor any other other member member firm firm vis-à- vis-à- © 2014visvis thirdKPMG third parties, Internationalparties, nor nor does does Cooperative KPMG KPMG International International (“KPMG have International”), have any any such such authority aauthority Swiss to entity. obligateto obligate Member or bindor bind firmsany any member of member the KPMGfirm. firm. All network Allrights rights reserved. of reserved. independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-1 1 vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 1 The e-commerce explosion in China The e-commerce explosion in China A little over a decade ago, China’s path to e-commerce 11/11 Aleadership little over woulda decade have ago, been China’s difficult path to to foresee, e-commerce even 11/11 leadership would have been difficult to foresee, even China’s ‘Singles Day’ as the tech boom in the US and other markets saw the China’s ‘Singles Day’ asdevelopment the tech boom of e-commerce in the US and as other an important markets B2Csaw theand C2C occurs on November 11 occurs on November 11 developmentchannel. of e-commerce as an important B2C and C2C each year. The month channel. each year.and Theday aremonth In 2000, China had yet to develop any2 e-commerce and day are 2 represented by ‘ones’ Inapplications, 2000, China and had had yet only to develop 2.1 million any total e-commerce internet users.3 represented by ‘ones’ applications, and had only 2.1 million total internet users.3 (11/11). Payment systems and physical delivery mechanisms to (11/11). Paymentfacilitate thesystems development and physical of e-commerce delivery mechanisms transactions to facilitatewere well-developed the development in other of e-commerce markets, but transactions were simply were well-developed in other markets, but were simply In 2013, ‘11/11’ online lacking in China. In 2013, ‘11/11’ online lacking in China. sales rose by 80 percent sales rose by 80 percent Fast forward to the end of 2013: with Chinese internet from the previous year, from the previous year, Fastusers forward quickly to approaching the end of 2013:600 million with Chinese4, and e-commerce internet to over USD5.7 billion users quickly approaching 600 million4, and e-commerce revenue growth (from 2009-2012) topping 70 percent to– over more USD5.7 than tripling billion the revenuecompounded growth annually (from 2009-2012)5, China is on topping pace to70 pass percent the US – more than tripling the compounded annually5, China is on pace to pass the US amount of ‘Cyber Monday’ and become the largest e-commerce market in the world. amount of ‘Cyber Monday’6 and become the largest e-commerce market in the world. revenues in the US. revenues in the US.6 Value of e-commerce transactions in Valuethe of USe-commerce and China, transactions 2009-2015 in the US and China, 2009-2015 600 Essentially, China’s large and growing middle-class have 600 Essentially,become accustomed China’s large to and making growing frequent middle-class e-commerce have 500 becomepurchases.
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