Wuxi works to boost e-commerce

Wuxi in East China's Jiangsu province released a series of measures on Oct 14 to promote the innovation and development of the e-commerce industry, the first city in the province to do so.

A series of measures have been introduced to support the construction of live e-commerce carriers, promote the agglomeration of MCN institutions, encourage the innovative application of e-commerce enterprises, help e-commerce enterprises to expand, support the cultivation of livestreaming talent, optimize the development environment of livestreaming e-commerce, and introduce and cultivate various e-commerce platforms.

According to the measures, rewards will be given to e-commerce companies with an annual online transaction volume exceeding 100 million yuan, and with significant tax contributions. Enterprises that sell products made in Wuxi through livestreaming will be given additional rewards based on their sales. E-commerce enterprises awarded by the province or the country will also be rewarded in stages.

Wuxi will help platforms, colleges and service organizations to incubate and train e-commerce livestreamers as well as attract already established livestreamers. E-commerce livestreamers are eligible to be included in the "Taihu Talent Plan" based on indicators such as annual sales and company performance.

Livestreaming e-commerce has brought new economic growth momentum to Wuxi in the face of the COVID-19 pandemic.

As a national e-commerce demonstration city, Wuxi's online retail sales reached about 55.4 billion yuan ($8.23 billion) from January to August 2020, a year-on-year increase of 6.3 percent. Over 315 million people watched livestreams in the first eight months of this year, ordering goods worth over 5.62 billion yuan.