Shenzhen has set its sights on having the sales figures generated by the livestreaming e-commerce industry top 300 billion yuan (US$43.68 billion) by 2025.
The goal was put forward in the city’s action plan (2023-2025), which was issued Friday, for pushing forward the high-quality growth of the livestreaming industry.
The plan pointed out that Shenzhen will accelerate the high-quality development of livestreaming e-commerce in the city, in a bid to help turn Shenzhen into an international consumption center and a globally influential city for livestreaming e-commerce.
A total of 11 specific tasks were proposed, including accelerating the construction of livestreaming e-commerce bases, encouraging the innovative development of e-commerce platforms, creating a professional service ecosystem for livestreaming and promoting the construction of livestreaming e-commerce supply chain.
As per the plan, by 2025, Shenzhen will cultivate and introduce over 100 leading livestreaming e-commerce service institutions, build more than 50 livestreaming e-commerce bases and parks that will foster the industry, and encourage over 100 Shenzhen enterprises to launch livestreaming business.
The city will support more than 50 influential and well-known livestreaming hosts to develop in Shenzhen and cultivate no less than 3,000 livestreaming hosts and over 10,000 livestreaming e-commerce professional talents.
Additionally, Shenzhen will support characteristic industrial belts, industrial parks, office buildings and professional market operators to collaborate with well-known e-commerce platforms and professional service institutions to build one-stop livestreaming e-commerce bases, and promote the establishment of functional or regional headquarters of livestreaming e-commerce platforms in the city.
China’s emerging livestreaming e-commerce industry has witnessed explosive growth in recent years, creating new growth opportunities for a wide range of businesses and injecting new impetus into the economy.
As of December 2022, the number of livestreaming users in China reached 751 million, accounting for 70.3% of the total number of internet users, according to a report from the China Internet Network Information Center.
Among the livestreaming users, the number of livestreaming e-commerce users was 515 million, up 51.05 million compared to December 2021.
The development of livestreaming e-commerce has also created many new jobs. According to public data released by the Ministry of Human Resources and Social Security, by the end of 2021, the number of livestreaming practitioners and hosts had exceeded 10 million and reached 1.234 million in the country, respectively.