MOEA Aims to Upgrade Taiwan's Chinese E-Commerce Value to NT$1 T. in 2014

Taipei, June 20, 2011 (CENS)--Taiwan's Minister of Economic Affairs Shih Yen-shiang recently claimed that the Ministry of Economic Affairs (MOEA) aims to upgrade the island's production value of Chinese-language e-commerce to NT$1 trillion (US$33.3 billion) by 2014 and shape the island into the hub of the Chinese-language e-commerce.

MOEA demonstrated its achievements after a period of executing the government's Chinese E-Commerce Market and Transaction Security Promotion Project. Shih said that Chinese e-commerce transactions have been surging despite lagging far behind the majority still handled in English.

MOEA roughly estimates that total population of Chinese e-commerce users should exceed 100 million people, Shih said, creating vast, lucrative opportunities. The annual production value of Chinese e-commerce in Taiwan already outstripped NT$460 billion (US$15.3 billion), and the government hope the booming industry could soon become a "NT trillion dollar industry" in 2014, he added.

To shape Taiwan into the Chinese e-commerce hub, MOEA has mapped out three major development strategies: transaction security and consumer confidence, focused Internet service, and higher transaction volume.

Y. L. Yeah, Director General of Department of Commerce (DOC) under MOEA, pointed out that the Chinese e-commerce market has been expanding, especially a impressive value 498 billion rrenminbi (RMB, or Chinese yuan) in China's B2C (business to consumer) and C2C (consumer to consumer) market.

He claimed that DOC has been actively promoting the Taiwan Personal Information Protection and Administration System (TPIPAS) and Data Privacy Protection Mark (DP Mark). Up to date, at least 10 e-commerce companies have agreed to join the program.

In addition, the DOC also provides e-commerce security inspection and advisory services, with at least 120 companies having been helped.