Central People Government of People Re : E-commerce benefits service sector

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03/21/2017 | 12:44 am

Is e-commerce part of the real economy? That has long been a question. On March 19, People's Daily published an article on its front page, saying that the new, real economy is rising. Beijing Youth Daily comments:

Official data show that more than 470 million domestic residents purchased goods online last year. As a result, the total sales revenue of e-commerce exceeded 5 trillion yuan ($724 billion), 26 percent higher than it was in 2015 and accounting for 12.6 percent of the country's total retail sales.

However, the debate has continued about whether e-commerce is part of the real economy. Many people argue that only bricks-and-mortar supermarkets and shops are the real retail economy and they say everything online is virtual.

That is wrong and might cause people to refrain from opening online shops at a time when the top leadership has vowed to further support the real economy. This will in turn hinder the development of e-commerce.

That's why the People's Daily article comes in time. It clears up any ambiguity over the real economy, and gives people confidence to participate in e-commerce.

Actually, e-commerce is not the enemy, as it too is part of the real economy. Real goods are bought and sold, and all these goods are produced in factories. E-commerce thus helps the real economy as a whole to prosper. Just as the People's Daily article pointed out, Alibaba's sales created more than 30 million jobs.

Maybe some bricks-and-mortar stores face fierce competition, but that's not the fault of e-commerce. Competition helps all stores sharpen their edge and improve their customer service, which in turn upgrades the service sector.

The Central People's Government of the People's Republic of China published this content on 21 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 March 2017 23:44:01 UTC.

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