At last count, China had nearly 538 million internet users–a number that is growing everyday. Out of these 538 million, 194 million have shopped online. And this number is also growing everyday. As a result, e-commerce is one of the hottest sectors in China right now. The Chinese customer is demanding–and unforgiving–and competition between players is cut-throat. As a result, China’s e-commerce companies are seeking innovative ways to differentiate themselves. And so, China’s e-commerce sector has become fertile ground for out-of-the-box thinking and experimentation.
In 2007, Gang Yu, formerly a professor at McCombs School of Business, University of Texas, Austin, and his friend and partner Liu Junling decided to set up China’s first large-scale online supermarket. In mid 2008, Yihaodian (The Store Corporation) was born. In the first three years of its existence, Yihaodian grew by an astounding 19,218%, winning the number one slot on the Deloitte Technology Fast 50 rankings.
At Yihaodian, the academic in Yu has been hard at work, testing out new ways of expanding the business, be it innovations in how the customer interfaces with the site, or filing patents in warehousing and logistics.
In October, multinational retail giant Walmart picked up a 51% stake in Yihaodian.
In Part 1 of an interview with CKGSB Knowledge, Yu elaborates on China’s vibrant e-commerce sector and the company’s experiments in mobile commerce and social commerce.
Enjoying what you’re reading?
CKGSB Report
Related Articles
Our Programs
Emerging Tech Management Week: Silicon Valley
In partnership with UC Berkeley College of Engineering
Global Unicorn Program Series
This program equips participants with proven strategies, cutting-edge research, and the best-in-class advice to fuel innovation, seize emerging tech developments, and catalyse transformation within your organization.
LocationUC Berkeley
Date02 - 07 Nov, 2025
LanguageEnglish
Asia Start: AI + Digital China Expedition
Asia Start provides entrepreneurs and executives with unparalleled access to Asia’s dynamic digital economy and its business ecosystems, offering the latest trends and insights, strategies, and connections to overcome challenges and unlock future growth for your business in Asia and beyond.
LocationShanghai, Hangzhou, Guangzhou, Shenzhen
Date17 - 21 Nov, 2025
LanguageEnglish
Stanford & Silicon Valley Immersion Program
In partnership with Stanford Engineering Center for Global & Online Education
Global Unicorn Program Series
This CKGSB program equips entrepreneurs, intrapreneurs and key stakeholders with the tools, insights, and skills necessary to lead a new generation of unicorn companies.
LocationStanford University Campus,
California, United States
Date08 - 12 Dec, 2025
LanguageEnglish with Chinese Translation
AI-Driven Industrial Digital Transformation and Smart City Development
In partnership with Columbia Engineering
Global Unicorn Program Series
This program is a transformative initiative designed to empower civil leaders and businesses in smart city development, fintech, alternative energy, and new energy sectors.
LocationDubai, UAE
Date08 - 13 Dec, 2025
LanguageEnglish
Opportunities in the Disruption of Traditional Industries
In partnership with The University of Sydney
Global Unicorn Program Series
The Global Unicorn Program in Disruption of Traditional Industries – presented jointly by CKGSB and University of Sydney – will emphasize Australia’s distinctive contributions.
LocationSydney, Australia
Date24 - 27 Feb, 2026
LanguageEnglish
Emerging Markets: Innovation and Scaling for Exponential Growth
Global Unicorn Program Series
A joint program by Cheung Kong Graduate School of Business and The South Africa Chamber of Commerce and Industry
LocationJohannesburg, South Africa
Date20 - 23 Apr, 2026
LanguageEnglish
AI-Driven Healthcare Innovation Program
In partnership with Johns Hopkins Carey Business School
Global Unicorn Program Series
The 2025 Artificial Intelligence (AI)-Driven Healthcare Innovation Program stands at the forefront of addressing the critical need for innovative healthcare solutions powered by artificial intelligence.
LocationJohns Hopkins University, Washington, D.C.
DateSummer 2026
