China: Online and mobile payments are the fasting growing app category for H1 2014

The Chinese Internet Network Information Center (CNNIC) recently released its half-year report on local Chinese internet connectivity and usage. With more people

The Chinese Internet Network Information Center (CNNIC) recently released its half-year report on local Chinese internet connectivity and usage.

With more people connecting to the internet than ever before in the region,  payments and Ecommerce based services and application saw the most growth in the past 6 months.

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CNNIC’s report shows a 2% growth spurt in internet connectivity resulting in 632 million connected citizens (Netizens), 47% of the total Chinese population, the largest population in the world. A larger growth spurt was seen in mobile internet usage with a 5% jump since December 2013 resulting in a total of 527 million mobile surfers. 28.2% of all the connected Chinese citizens are located in China’s rural areas.

With growing internet connectivity internet based applications also witnessed growth. The fastest growing internet applications were payment and Ecommerce based ones. The growth rate was seen across all internet connected devices with mobile payments coming in first, with a 63.4% increase in mobile payment connected users. All in the entire mobile payment rate increased to 38.9%, a 13.8% bump from 2013 with 25.1%.

Financial based products also grew in the first half of 2014 with services like Alibaba’s mutual funds section on its Yuebao marketplace, gaining much interest from local users. A total of 10% of Chinese netizens have signed up to such services.

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CNNIC’S report was surveyed a total of 30,000 Chinese residents with 50% of them being landline based internet users and the other half being mobile connected users. Residents were located in all of the administrative regions in China.

 

 

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(Images provided by Wikimedia. 1, 2.)

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