China to exceed US in online spending

China’s online sales are poised to overtake that of the US this year to become the world’s biggest e-payment market, Reuters reported, citing a report from management consultancy firm Bain & Company. The change in shopping habits comes as almost half of the country’s population have direct access to the Internet, and of that number nearly 80% own smart phones or tablets. China’s e-commerce market has grown at an average rate of 71% from 2009 to 2012, versus 13% in America, and its total size is expected to reach US$539.07 billion (RMB3.3 trillion) by 2015, Bain & Company said.