An anchor sells products via live streaming on the third China International Import Expo. (Photo/China News Service)
(ECNS) -- China’s live streaming e-commerce users have exceeded 460 million as of June this year, increasing by 204 million compared with that of March 2020, accounting for 44.6 percent of total net users, said a report on the country’s e-commerce released by the Academy of China Council for the Promotion of International Trade.
According to the report, from May 2021 to April 2022, Douyin, a Chinese short video platform, has seen nine million live-streaming sections per month and sold over 10 billion items, with the total transaction volume increasing by 2.2 times year-on-year.
As of March 2022, e-commerce livestreaming on Taobao, China’s largest online shopping platform, has attracted over 50 billion views.
Digital technology is the driving force for consumption upgrading, said the report. On the one hand, digital technology is the catalyst of new consumption modes and formats, like “cloud shopping” and “cloud concert”; on the other hand, digital economy has optimized the consumption structure to satisfy customized demand through empowering industrial production.
According to the report, e-commerce has played an important role in promoting economic recovery.
Concretely, it is essential for boosting consumption and ensuring COVID-19 prevention and control materials supply. Meanwhile, consumption scene innovation has promoted the transformation of service industry, and cross-border e-commerce has become an important measure to stabilize foreign trade and advance consumption with policy support.