yihaodian

That’s doubled from two years ago.

The acquisition will help JD fight Alibaba in China’s super-tough online retail market.

China’s market regulator said today that the government will regulate ecommerce more strictly in an upcoming clampdown on counterfeit products and poor customer service.

Just over 40 percent of the stuff that Chinese people buy online is fake, said a recent government-backed report.

Alibaba’s Tmall, China’s largest online retail marketplace, beat all traditional retail giants to head a new list of China’s top retailers.

These users were also far more likely to use the “white-collar stalwart Sina Weibo,” as well as foreign social media apps like Facebook and Twitter.

This is the first time Amazon has ever invested in a Chinese company. The move mirrors Walmart’s (NYSE:WMT) majority stake in Yihaodian.

New figures out today show that spending on China’s ecommerce sites keeps growing, hitting a grand total of RMB 446.44 billion (US$74.03 billion) in Q1 2014.

In 2013, China had an estimated 270 million e-shoppers who spent about $180 billion on stuff. Inevitably, some of those are buying groceries. China’s top online supermarket is Yihaodian, which has been majority owned by Walmart (NYSE:WMT) since 2012, though the e-store came online in 2008.

China’s e-shoppers now number over 240 million, who collectively spend an average of $40,000 per second. But the nation’s e-commerce boom is far from hitting its peak. New statistics from