E-commerce, notably through Taobao, has become a significant driver of China’s service sector, which now constitutes 56% of the country's GDP.
E-commerce has become increasingly important in Asia, particularly in China, where it is making an increasingly important contribution to the service sector, which itself has grown to 56 per cent of the total GDP. Taobao (Chinese: ; approximate English translation: “digging for treasure” or “treasure hunt”) is a Chinese online shopping website and ecommerce platform, headquartered in Hangzhou, East China. Founded by Alibaba Group in 2003.
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