China's E-Commerce Market Is Growing… And Fast

China's e-commerce market is big. Think $2.2 trillion big.

According to a report published on Wednesday, China's e-commerce market surged 31.4 percent from 2013's level to 13.4 trillion yuan. The volume of business-to-business activity reached 10 trillion yuan (up 21.9 percent), while online retail levels reached 2.82 trillion yuan (up 49.7 percent).

At the end of 2014, more than 2.5 million individuals in China worked directly in e-commerce, while an additional 18 million individuals worked indirectly.

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"E-commerce is a new growth engine for China's economy and has strong impacts on the ITmarket and business models of traditional industries, including the retail, education and medical care," said Zhang Zhouping, a research analyst at China E-Commerce Research Center.