China stresses importance of credibility in e-commerce (Xinhua)
Updated: 2006-03-14 09:37
China has recently set up an e-commerce credibility evaluation center in an
effort to facilitate the healthy growth of online businesses, according to the
Chinese E-commerce Association.
The center will help to certify whether
an online shop really exists and operates lawfully, whether it protects the
customers' private information and if it handle businesses correctly, said the
association's president Song Ling.
The companies involved will be given
a credibility rating, which the customers can find on the center's website, said
Song.
Experts believe that the effort will address the problem of a lack
of credibility which hinders the development of e-commerce in China.
China's e-commerce had seen 600 billion yuan (about 74.5 billion US
dollars) of transactions by the end of 2005, but business was often marred by a
lack of credibility and payment difficulties.
In comparison, 93 percent
of American buyers give priority to credibility when purchasing on-line and
three quarters of buyers choose only to buy from companies with a high
credibility rating.
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