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China: Livestreaming reshapes landscape of China's digital economy

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Storyline: Livestreaming reshapes landscape of China's digital economy [Voice_over] As economies strive to recover from global challenges and adapt to shifting market demands - the integration of digital tools is proving to be a game-changer. From rural farmers to urban entrepreneurs, live-streaming is breaking down barriers and injecting fresh momentum into the world of work. [Sound_bite] Qi Qi, E-Commerce host, East Buy: "It's such an honor because this helps to empower the local business and for now, we already have like four hundred products of our own brand." [Voice_over] Live-streaming platforms like East Buy in China, have become virtual marketplaces where individuals can showcase their talents, sell products and connect with audiences in real-time. We visited Ruhnn, an e-commerce company once dubbed as the first stock of influencers, now taking a lead in shifting the focus from key opinion leaders to key opinion consumers with a new platform Aishare - registering more people in the industry. The Chief Executive Officer explained the market demand. [Sound_bite] Zhu Tianyu, CEO, Ruhnn Aishare: "Young people have experienced a shift in their mindset. In the past, they might have emphasized that their businesses would create value for others, but now they are more focused on pursuing the value of personal growth." [Voice_over] The platform has so far registered over 200,000 people globally. According to the CEO, in the past, people were more willing to follow the opinions of key opinion leaders. But now, they're more inclined to listen to the genuine experiences of people around them. From content creators to tech professionals to logistics coordinators and marketing specialists, the ripple effects of this digital revolution are being felt across industries. [Sound_bite] Zhu Tianyu, CEO, Ruhnn Aishare: "Today, in the context of economic influencer marketing, influencers can share their genuine experiences and feelings with their followers based on their real consumption experiences with physical brands. This approach enables them to more effectively and efficiently help physical platforms expand their sales networks and achieve better customer acquisition through new media." [Voice_over] Small and medium-sized enterprises here in China are now leveraging the power of live-streaming and artificial intelligence to reach new customers and stay competitive. As the industry continues to evolve, its potential to drive inclusive growth and create employment for millions around the world is only just beginning to be realized. To many, live-streaming is proving that the future of employment is not just about where we work, but how we work and the possibilities are endless. [Restrictions : No access Chinese mainland]

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