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Shanghai Daily News Digest

Livestreaming+ E-Commerce to Inject New Vitality into the 3rd CIIE   2020-11-06

 

 

The 3rd China International Import Expo (CIIE) is to be held in Shanghai from November 5 to 10, 2020. It is a major initiative launched by the Chinese government in a bid to further open its market to the world and firmly support free trade and economic globalization. This year, with the global economy greatly hit by COVID-19, an economic and trade platform such as the 3rd CIIE will play an even greater role in strengthening economic and trade exchanges and cooperation, driving global trade and world economic growth, developing a more open and higher-level big market oriented towards the whole world, and promoting the development of an open world economy. With the epidemic accelerating the online-to-offline linkage and the digital economy empowering the traditional commerce, the emerging new consumption mode of "livestreaming+ e-commerce" will be greatly helpful in expanding the spill-over effect of the CIIE and will inject new vitality into it. Recent years has witnessed a surge in livestreaming, which, with its unique interaction and excellent consumer experience, has become a popular new consumption mode. According to the 46th China Internet Development Statistics Report released by the China Internet Network Information Center, as of June 2020, China's Internet users reached 940 million (562 million of which were livestreaming users), and the number of e-commerce livestreaming users was 309 million, accounting for 32.9 percent of the total. The massive number of online shoppers, the popularization of livestreaming as well as the participation of large numbers of platforms and sellers have led to rapid development of e-commerce livestreaming. "Livestreaming+ E-commerce" helps exhibitors to engage consumers. In terms of products, some trading ports of the CIIE's perennial trading and service platforms, making use of rich commodity resources, actively join hands with e-commerce platforms to make their way into the world of livestreaming. Through livestreaming and short video series, and focusing on exotic trips and high quality imported goods, they livestream gourmet, cosmetics, wine tasting, home furnishing, and etc., allowing consumers to experience the cultural splendour of the world without leaving their homes and to achieve the goal of "buying the world, selling the world, and benefiting the world."  When it comes to users, platforms and network anchors bring into play the fan economy effect and adopt marketing strategies such as influencing and seckilling to attract the attention of users and stimulate their desire to buy. The "one-stop" services for users meet a series of derivative consumer needs, optimize their consumption experience and increases their loyalty, and meanwhile attract potential heavy buyers. From the perspective of the industry chain, the combination of e-commerce and livestreaming enables the upstream suppliers and downstream consumers to connect and communicate with each other, provides exhibitors with efficient channels not only featuring low-cost, convenient circulation and fast feedback of consumer demand, and also helps exhibitors guide and adjust the production level of suppliers. "Livestreaming + E-commerce" significantly promotes the brand of "Shanghai Service," as well as the spirit and image of Shanghai. Firstly, the CIIE  provides a platform for Shanghai to showcase the latest products and technologies across the world to a wider audience and in a more user-friendly manner through live channels, and to present high-end dialogues on major global cutting-edge issues to the public, which will be conducive to further enhancing the global influence of Shanghai as a brand. Secondly, e-commerce and other promotion media, by presenting the systematized, refined, and smart image of Shanghai's urban service guarantee system, vividly practices Shanghai's service strategy of "by the people and for the people." Thirdly, network anchors show through livestreaming Shanghai's urban character and culture, its clean environment and beautiful sceneries, together with the charming buildings of the Shanghai World Expo Exhibition and Convention Center, and the shining brilliance of both sides of the Huangpu River, helping the exhibitors to fully experience the city’s whole-hearted devotion to the CIIE, and giving the world a glimpse of the beauty and spirit of Shanghai.   "Livestreaming + E-commerce" helps to expand the spill-over effect. On one hand, e-commerce livestreaming is beneficial to further strengthening the CIIE’s role as an import distribution hub that connects the Yangtze River Delta, serves the country and impacts the Asia-pacific market. Livestreaming is a useful supplement to the platforms of import commodities, quickly pooling new advantages for niche markets like high-end fresh agricultural products and cutting-edge smart equipment. At the same time, the e-commerce channel injects new energy into the establishment of a more comprehensive direct selling center and trade platform for import commodities. On the other hand, the e-commerce platform is conducive to promoting home-made alternative quality goods to domestic consumers, and meeting their demand for the latest and high-quality products on global markets. By integrating and controlling the flow of logistics, combining the advantages of applicable bonded warehouses in Shanghai and the Yangtze River Delta, and utilizing preferential policies such as designating online windows for the sale of foreign trade products and encouraging e-commerce platforms to offer commission-free, deposit-free and approval-free exhibition areas, e-commerce platforms carry out off-line marketing activities within the venues of the CIIE, turning the three provinces and one city in the Yangtze River Delta into a sales and production base of world-class products, expanding the spill-over effect of the CIIE to a larger scale and a wider scope, and embracing an economic globalization that is more open, inclusive and balanced where benefits can be shared by all. (By Zhang Zhuo, assistant researcher at Institute of Journalism, Shanghai Academy of Social Sciences.)  

 


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