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In 2003, eBay acquired Eachnet, China's online auction leader at the time, [7]: 51 for US$180 million. It became a major contender in the Chinese consumer e-commerce market. [8] Responding to eBay's moves Alibaba launched Taobao as a rival consumer-to-consumer platform. [7]: 51 To counter eBay's expansion, Taobao offered free listings to sellers.
AliExpress (Chinese: 全球速卖通) is an online retail service based in China and owned by the Alibaba Group. [1] Launched in 2010, [ 2 ] [ 3 ] it is made up of small businesses in China and other locations, such as Singapore, that offer products to international online buyers.
Temu (/ ˈ t iː m uː / ⓘ TEE-moo) is an online marketplace operated by the Chinese e-commerce company PDD Holdings, which is owned by Colin Huang. [10] [9] [11] It offers heavily discounted consumer goods [12] mostly shipped to consumers directly from China.
Taobao grew to become China's largest C2C online shopping platform and later became the second most visited website in China, according to Alexa Internet. [ 86 ] [ 87 ] Taobao's growth was attributed to offering free registration and commission-free transactions using a free third-party payment platform. [ 88 ]
Since 2013, China is the world's largest e-commerce market. [2]: 99 Its domestic e-commerce market was an estimated US$899 billion in 2016. [3] China accounted for 42.4% of worldwide retail e-commerce in that year, the most of any country. [4]: 110 In 2019, online retail sales were 21% of China's total retail sales.
[citation needed] The site accounts for a 47.6% share of the B2C online retail market in China, followed by 16.2% of 360buy and 4.8% of Amazon.cn. [15] According to Alexa, as of June 2021, Tmall.com was the 3rd most visited website in the world and the 1st most visited website in China. [16]