BUSINESS Industry standards issued for livestreaming

BUSINESS

Industry standards issued for livestreaming

chinadaily.com.cn

20:50, July 02, 2020

Qiu Kai, a beekeeper, introduces via livestream local bee products in Lincheng township, Changxing county of Zhejiang, on May 20. [Photo/Xinhua]

Zhejiang province issued the nation's first set of standards on Tuesday for e-commerce livestreaming, a step forward in the construction of the booming live broadcasting market.

The standards, laid down by the E-commerce Promotion Association of Zhejiang, involve key sub-areas such as talent training, operations, management, services, marketing and evaluation of e-commerce livestreaming. Their purpose is to enhance self-discipline and sound development of the robustly growing sector.

Hangzhou, Zhejiang province, home to internet giant Alibaba, is now taking the lead in the all-the-rage business, since the city's merchants have a good nose for the market and are already turned to livestreaming. The city also enjoys a favorable policy environment for it.

Nationwide, livestreaming e-commerce has significantly helped boost customer enthusiasm for spending. In 2019, e-commerce sales via the medium was 433.8 billion yuan ($61 billion) a 226 percent leap from a year earlier.

The transaction volume of e-commerce in 2019 reached 34.81 trillion yuan, an increase of 6.7 percent year-on-year, according to the latest report by the Ministry of Commerce on Wednesday.

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