ABSTRACT
In recent years, due to the digitalization of the economy, there has been a rapid development of online commerce around the world. China is a global leader in online trade;the country demonstrates the highest volumes of the online sales market. The Russian online sales market is the most dynamic, Russia ranks first in terms of the growth rate of online retail. Within the framework of this study, we analyze the current state of online retail trade in China and Russia over the recent years, assess the contribution of e-commerce to the retail turnover of the two countries, identify factors affecting the active and dynamic development of this sector and promising directions for further development of online consumption in the context of modern socio-economic transformations. In the course of the research, we have found that the successful development of online retail in China is the result of an effective system of political regulation and stimulation of this segment, constant expansion and improvement of Internet coverage, improvement of e-commerce infrastructure and people's financial situation. In Russia, the widespread use of the Internet, including on mobile devices, the transformation of consumer attitudes, requests and preferences, the increase in sales volumes of the largest marketplaces and online stores reflect large reserves and great potential for further growth and successful development of this sector. The main directions for further development of the e-commerce segment are as follows: improving the standard of living and quality of life, improving the infrastructure of online commerce, mainly in the direction of ensuring the security of online payments and other transactions, expanding the informatization of rural areas and their population, greening online consumption, improving the regulatory framework in the field of e-commerce.
ABSTRACT
The COVID-19 pandemic has significantly affected economic development in countries around the world. It aggravated existing problems and increased the demand for economic transformation, modernization and qualitative development, triggered a new technological reform, which led to the emergence of new economic business forms and new consumption. The article assesses the impact of the COVID-19 pandemic on the economies of China and Russia. To achieve this goal, we review the state of business activity in the manufacturing and non-manufacturing sectors of the national economy, and summarize the main measures of the anti-pandemic policy implemented by the Chinese and Russian governments. We look into the dynamics of functioning of offline economic spheres that are aimed at personal communication (tourism, catering, retail, transport, culture, entertainment), as well as online spheres implying human-computer interaction (electronic retailing, express delivery, remote work, telemedicine) in the context of the COVID-19 pandemic. We make conclude that the extent of COVID-19 impact on the economy depends on the effectiveness of measures for its prevention and control. We are convinced that at the moment it is necessary to correlate these measures with economic and social development policies, and take into consideration increased consumption as an important aspect of mitigating the effects of COVID-19, accelerate the transformation and modernization of traditional industries, actively develop new economic business forms and build a more open monetary circulation both within the country and globally, thus enhancing the role of the state in global supply chains.