China’s southern tech hub Shenzhen plans to attract new contractors to turn the city into an e-commerce center. The corresponding plan includes achieving trade turnover of about 300 billion yuan (approx. – 43.7 billion US dollars) by 2025, the South China Morning Post wrote on Sunday.
“The city aims to expand the local live-streaming e-commerce industry by incubating and attracting at least 100 top-tier agencies in the next three years or so, as well as building 50 industrial estates dedicated to the sector, according to an action plan released on Friday by the municipal commerce bureau,” the report says.
Note that according to the latest data, the volume of sales from Shenzhen over the past 11 months amounted to 152 billion yuan (approx. – according to the Shenzhen Economic Daily). For comparison, in 10 months of 2021, the turnover of Hangzhou, where the operator of the online shopping platform Alibaba Group Holding and 69 thousand other online stores are located, exceeded 503 billion yuan.
According to the published plan, Shenzhen will attract to cooperation 50 leading live broadcasts, as well as about 3 thousand streamers and 10 thousand professional service providers for the development of the future e-commerce center. In addition, the city administration will take measures to combat counterfeit goods.
The China’s southern tech hub Shenzhen, has made previous attempts to develop the electronic shopping industry, but they had to be adjusted in accordance with the state of the electronic market after and during the Covid-19 pandemic. The city authorities hope that stimulating this sector will be a measure of support for retail sales affected during the economic downturn.
The material was collected and processed by Sofia Chernopyatova
