Chinese Internet economy

Retail web sales totaled 7.18 trillion yuan ($1.149 trillion) in 2017, an increase of 32% from 5.43 billion yuan ($869 billion) in 2016, according to China’s Ministry of Commerce. E-commerce growth accelerated past the 30% mark in 2016, after slumping to 26% in 2016 from 33% in 2015.

Today is cruel. Tomorrow is crueler. And the day after tomorrow is beautiful. --Jack Ma,the co-founder and executive chairman of Alibaba Group