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Digital procurement takes up about 7.5% of China’s corporate procurement, indicating a huge potential of digital procurement market in the process of industrial digitalization, according to a report released by China Federation of Logistics and Purchasing

FILE PHOTO: A man looking at a phone is seen through a digitally decorated glass during the World Internet Conference in Wuzhen, Zhejiang province, China, November 23, 2020.FILE PHOTO: A man looking at a phone is seen through a digitally decorated glass during the World Internet Conference in Wuzhen, Zhejiang province, China, November 23, 2020.

The report, titled “the development of digital procurement in 2022,” shows that the corporate procurement in China surpassed 174 trillion yuan in 2021, while the total of digital procurement stood at 10 trillion yuan , less than 10 percent of the total corporate procurement in the country.

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