Online retail market hits $296b

China's online retail market reached 1.85 trillion yuan ($296 billion) in 2013, up 41.2 percent year-on-year, becoming the largest online retail market in the world, aastocks.com reported Thursday citing data from China's Ministry of Commerce.

In 2013, total turnover of Chinese e-commerce reached more than 10 trillion yuan, 26.8 percent up year-on-year, the report said.

With 302 million online shopping consumers, the booming online retailing industry provided more than 9 million jobs and it is expected to provide 30 million jobs by 2015, according to the report.