Yaoji has eyes on new trend in selling

A COMPANY has turned its workshops in Anting Town into a short video livestreaming base, making it the largest short video livestreaming service park in the Yangtze River Delta region.

Yaoji Technology, listed on the Shenzhen Stock Exchange, started the process in August. The 146,740-square-meter base provides space for short video shoots, live broadcasts, training, entrepreneurial incubation, commercial offices and talent apartments for the booming livestreaming industry.

Yaoji Technology was renamed from Yaoji Poker last year when its business expanded to include an Internet information service, computer software and hardware technology development.

Yaoji Poker was also involved in health, medical and online services.

Ding Jiayuan, executive president of Shanghai International Short Video Center based in the service park, said a workshop was renovated to make a “brand livestreaming hall.”

The base plans to set up largescale studios to promote auto brands based in Jiading.

Livestreaming shopping is a near US$70 billion industry in China, attracting influencers who scour markets and malls for items to sell to live audiences via social media.

Livestreaming is changing the habits of consumers across the world. The industry has grown rapidly since 2016, when online giants Taobao and JD.com both launched livestreaming platforms.

This year, it could gross more than a trillion yuan ( US$150 billion), according to a report by KPMG and AliResearch, an arm of e-commerce giant Alibaba.

That would more than double last year’s US$68 billion, said Shanghai-based iResearch.