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The Ministry of Industry and Information Technology: Business to business (B2B) transactions will break 20 trillion in 5 years

September 5th, the Ministry of Industry and Information Technology (MIIT) published the notice of "Information Technology and Industrialization Deep Integration Special Action Plan (2013-2018)" on the website. It specifies that by the year of 2018, the development index for national integration of the two must reach 82, and inter-enterprise e-commerce transactions (B2B) must exceed 20 trillion yuan.

Zhang Zhouping, senior analyst of China Electronic Commerce Research Center, told "Daily Economic News" that based on the research analysis of Chinese electrical business market, it is feasible that B2B transactions will exceed 20 trillion yuan in the next five years.

A number of business people in the interview also said that B2B is the trend of the transformation and development of traditional enterprises. But at the present, the profit model of the existing domestic B2B platform is quite single, and is still in the transformation process from information release to online trading. In the next few years, with the improvement of B2B trading platform, trading volume and growth rate will be higher than they are now.

According to the data provided by China Electronic Commerce Research Center, in the first half of this year, the national e-commerce transactions amounted to 4.35 trillion yuan, with an increase of 24.3%; of which B2B transactions amounted to 3.4 trillion yuan, increased by 15.25%; online retail market transactions amounted to 754.2 billion yuan, with an increase of 47.3%. Benefited from the expansion of enterprise e-commerce, the revenue of B2B e-commerce service providers reached 9.38 billion yuan, up by 29.71% as against the same period of last year.

Although there are many imperfections, China Electronic Commerce Research Center expects that the e-commerce transactions in this year will exceed 10 trillion yuan, of which B2B transactions will exceed 7 trillion yuan. At this rate, B2B transactions will possibly exceed 20 trillion yuan in the next five years.