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China's online retail industry has experienced a tremendous growth in recent years. The online penetration rate of the retail market increased from 10.3 percent in 2015 to 17.0 percent in 2017, and is expected to further increase to 24.4 percent in 2022, the company said in its prospectus, citing statistics from China Internet Network Information Center.
China's nighttime consumption volume in the first quarter dropped by over 40 percent year-on-year due to the outbreak of COVID-19, according to China UMS data. The volume began to rebound in the second quarter after infections waned following national efforts to battle the epidemic.

China's development is not only an achievement for China itself but also a contribution to the whole world. China has been committed to opening its market wider to the world and deepening mutually-beneficial cooperation with other countries. This means China's progress in science, technology and innovation has delivered benefits to the people of the whole world. China has lived up to its responsibility as a big country, standing firm during the Asian financial crisis of 1997 and the international financial crisis of 2008.
China's gross domestic product (GDP) expanded 4.9 percent year-on-year in Q3, faster than the 3.2-percent growth seen in Q2, showed official data earlier this week.
China's gross domestic product shrank 6.8 percent year-on-year in the first quarter. Although GDP achieved a 3.2 percent growth in the second quarter, it may still be difficult for full-year growth to be higher than 3 percent. Currently, insufficient aggregate demand is the principal challenge facing the Chinese economy.
来源:资阳报