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Premier: Virtual commerce benefits real economy

Updated: Nov 21,2014 10:35 AM

Premier Li Keqiang visited China’s leading e-commerce village on Nov 19. The trip was seen to reflect how the government regards Internet-based retailing as increasingly important, as it seeks to boost domestic consumption.

Li said the e-commerce industry may be based in the virtual world, but it serves the real economy. He made his comments after visiting Qingyanliu village in Yiwu, Zhejiang province, where he talked to online shop owners, suppliers and couriers. Li said e-commerce gives equal business opportunities to rural and urban residents alike and narrows the living standard gap between them.

Qingyanliu has become home to more than 2,800 e-commerce stores, with an estimated annual sales of 4 billion yuan($652 million) in 2014. Each year, more than 4 million parcels are sent out from the village to destinations across the country and even abroad.