China has highest online book-purchasing rate
Updated: 2007-08-13 09:55
However, Huang Yuhai, Chairman of 99read.com, another online bookseller told the reporter that online-bookstores pose no threat to traditional ones, instead can serve as a beneficial complement.
And despite the growth, online booksellers still have a long way to go in terms of sales. "It is still too early to tell," Huang said. "The total sales volume of three online bookstores including Dangdang, Joyo, and 99read reached 500 million yuan (US$66.7 million), taking up only 2 percent of the book market in China while Amazon.com alone holds 40 percent to 50 percent of the American market."
Established in 1999 and 2000 respectively, Dangdang.com and Joyo.com are China's leading online shopping platforms. Though Dangdang claimed its clients increased more than 100 percent in each of the past six years, it still remains unprofitable. Its main rival Joyo, which has been acquired by Amazon.com, is also operating in the red.
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