A trust crisis is stifling China's e-commerce boom.

36.3 percent of Chinese companies with experience in online trading don't trust e-commerce. For consumers, the figure stands at 13.3 percent. 

Rampant online fraud has led 23.5 percent of Chinese companies to list trustworthiness as their biggest concern about online trading. 

An earlier report by the China Internet Network Information Centre found 71.1 percent of Chinese Internet users, who have yet to buy or sell something online, are wary of online fraud. 

A lack of mutual trust between sellers and buyers has become the biggest bottleneck to the rapid growth of e-commerce in China.

64.2 percent of Chinese consumers and 71.1 percent of enterprises, before starting online transactions, check the sellers' record of previous buyers' feedback. 

However, despite the increasing use of evaluation schemes, 40.3 percent of enterprise buyers still fail to give feedback to sellers after completing the transactions.

Inadequate securities for online payments and ineffective laws and regulations have also led a large number of consumers and enterprises to shun online commerce.

Source:佚名