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China's online retail sales up 8.8 pct from January to October

China

China

China

China's online retail sales up 8.8 pct from January to October

2024-11-23 11:45 Last Updated At:12:07

China's e-commerce sector has maintained healthy growth from January to October, with total online retail sales rising by 8.8 percent during the period, according to the Ministry of Commerce on Friday.

In the first 10 months this year, the country's online retail sales totaled 12.4 trillion yuan (about 1.7 trillion U.S. dollars). Of this, online retail sales of physical goods reached 10.3 trillion yuan (about 1.4 trillion U.S. dollars), up 8.3 percent year on year, the ministry's data showed.

In October, boosted by the National Day holiday, the 'Double 11' shopping festival and trade-in program, online retail sales maintained steady growth, with rapid increases in the purchase of digital products and service consumption.

For example, online sales of smart home devices and mobile phones rose by 14.2 percent and 12.2 percent year on year, respectively, in October, while sales of range hoods and household stoves surged by 93 percent and 46.8 percent, respectively. Internet service consumption also increased by 15.5 percent.

In addition, the expansion of e-commerce has helped increase online sales of overseas fresh produce by making it easier to reach Chinese consumers.

From January to October, sales of Chilean cherries and Malaysian durians on Chinese e-commerce platforms increased by 107.8 percent and 23.6 percent year on year, respectively, according to the data.

China's online retail sales up 8.8 pct from January to October

China's online retail sales up 8.8 pct from January to October

The Republic of Korea (ROK)'s former impeached President Yoon Suk-yeol on Friday was sentenced to five years in prison on arrest obstruction charges.

The criminal division of the Seoul Central District Court in charge of Yoon's obstruction of justice case handed down the prison sentence to Yoon for abusing the presidential security service to hinder the anti-corruption agency from executing its arrest warrant in January 2025.

The Corruption Investigation Office for High-ranking Officials (CIO) was once thwarted in its attempt to arrest Yoon as the presidential security service formed human shields and bus blockades to prevent investigators from entering the presidential residence.

The team of Cho Eun-suk, an independent counsel who led investigations into Yoon's insurrection and other charges, demanded a 10-year prison term for Yoon.

The court said Yoon privatized the presidential security service for personal safety and private interests by blocking the law enforcement agencies' lawful execution of an arrest warrant and attempting to destroy evidence, pointing out that despite the very bad nature of his crime, he consistently offered unconvincing excuses and showed no remorse.

The court stressed that severe punishment was necessary, considering the need to restore the rule of law damaged by Yoon's crime, but it noted that the fact that he was a first-time offender with no criminal record was considered a favorable factor.

The sentencing, which was broadcast live, was Yoon's first verdict coming from his botched martial law bid.

The first-instance sentencing for Yoon's insurrection charges was scheduled for Feb 19. The special counsel sought a death penalty for Yoon on the charges.

Yoon declared emergency martial law on the night of Dec 3 in 2024, but it was revoked hours later by the National Assembly.

The constitutional court upheld a motion to impeach Yoon in April 2025, officially removing him from office.

The ousted leader was indicted while in detention in January 2025 on charges of leading an insurrection, becoming the first sitting ROK president facing such prosecution.

ROK ex-president Yoon sentenced to 5 years in prison on arrest obstruction charges

ROK ex-president Yoon sentenced to 5 years in prison on arrest obstruction charges

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