Livestreaming across borders enhances China's international trade.

China's Ministry of Commerce (MOFCOM) reported a notable surge in cross-border e-commerce imports and exports, reaching RMB 2.38 trillion (US$331.1 billion) in 2023, marking a 15.6% YoY increase. Within this, exports constituted RMB 1.83 trillion, reflecting a substantial 19.6% growth from the preceding year.

These statistics underscore a shift in China's foreign trade landscape, with cross-border e-commerce live broadcasts emerging as a pivotal avenue for companies to secure orders and broaden their global footprint.

Wu Xinhe, the head of marketing at Maxevis in Shenzhen, revealed the company's success in garnering over 9,000 product inquiries through two months of livestreaming. The company specializes in tech products for children and has experienced heightened efficiency and customer acquisition, especially in Europe, North America, and South America.

The end of January 2024 data from MOFCOM disclosed that 645,000 companies across China engage in import and export activities, with over 100,000 identified as cross-border e-commerce entities.

Qichacha data revealed a thriving landscape, with more than 1.48 million live broadcast-related companies in China, showcasing consistent positive growth in registration volume over the last decade.

Alibaba.com reported a 127% YoY increase in overseas buyers watching cross-border livestreaming daily since 2023, leading to a substantial 156% growth in business opportunities for foreign trade merchants.

Chinese e-commerce platform Temu's successful expansion was highlighted, accumulating over 15 million users in Japan within six months since entering the market.

Cross-border e-commerce imports from China to South Korea witnessed a significant 121.2% YoY increase in 2023, surpassing the United States as South Korea's top source.

Live broadcasts have become a global trend, with major platforms like Amazon, Walmart, YouTube, Facebook, and Instagram exploring their potential to boost sales.

The National Academy of Economic Strategy of the Chinese Academy of Social Sciences released a report affirming that live broadcasts have become an effective customer attraction method, both domestically and internationally.

Pan Helin, co-director of the Digital Economy and Financial Innovation Research Center at Zhejiang University School of International Business, attributed the popularity of cross-border livestreams in China to the country's robust supply chain, high-quality products, quick market responsiveness, and consumer appeal.

Advancements in artificial intelligence and algorithmic recommendations are reshaping the landscape of live-streamed e-commerce, simplifying processes and potentially disrupting traditional methods. Wu Xinhe noted that the introduction of digital presenters has streamlined operations, reducing labor costs and enabling longer live broadcasts without presenters having to stay up late.