Alibaba<1688>, China's most well-known B2B e-commerce portal, initiated a trade forum in Beijing to promote e-commerce for Chinese suppliers, sources reported.

The forum, which started on Jun. 11, is part of Alibaba's efforts to support e-commerce startup, deployment and operation of local enterprises. Alibaba's online trade platform serves as the gateway for the suppliers to join the global industry chain.

Online trade enables small and medium-sized traders to realize direct transaction and lower operation cost, which may help boost profits and accelerate expansion to the overseas market, said an unidentified participant, adding that they have received more inquiries from overseas buyers through the online service.
 
Alibaba engaged itself in providing more convenient and secure e-commerce platform to cooperating clients, which will optimize the supply chain in international trade.

According to statistics from the Ministry of Information Industry, global e-commerce transaction volume will amount to US$27.4 trillion by 2010 and China's overall e-commerce transaction volume will reach RMB 14.8 trillion, in which B2B transaction volume will account for 95% over the next two years. 

The forum will be held in 34 Chinese cities in June and July and about 14,000 participants are expected to attend.

As of May 2008, China has more than 210 millions internet users which exceeded the US since last year, and increasing numbers are using blogging and social networking tools in their daily online activities. It is also expected that more Chinese small and medium enterprises are using the internet to conduct trades online.

Source:China Knowledge