Online shopping has long been the laggard of the Chinese Web. While ad-driven outfits such as search company Baidu.com and portal Sohu have seen revenues-and stock prices-soar, China's e-tailers have had a rougher time. One big reason is credit cards: It's tough to sell online in a country where few people have them, and those who do are reluctant to use them for fear of fraud. Consumers who actually shop on the Web typically opt for a solution that's both expensive and inconvenient for merchants: paying cash on delivery.
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