Japanese firms eye China's online market

The booming online shopping market in China has attracted global players. Japanese businesses have begun to tap into the huge market.

They are considering the rapid development of online shopping in China as essential to their own expansion.

Japanese companies are now creating online stores targeted at Chinese consumers. Some have even launched Chinese-language web sites to lure more Chinese online shoppers. These web sites are also offering payment via China UnionPay cards.

Insiders say the gloomy Japanese economy, slow population growth as well as shrinking domestic markets have all forced Japanese companies to turn to emerging markets like China.

According to a report from Japan's Kyodo News, China's online shopping sales in 2009 are expected to reach around 240 billion yuan. And the figure is likely to top 790 billion yuan by 2012.