The Shanghai municipal government announced plans to boost the city’s live-streaming sector, aiming for nearly US$85 million in online sales by 2026 to stimulate consumer spending in a sluggish national economy. The “Three-Year Action Plan for High-Quality Development of Shanghai’s Live-Streaming Economy (2024-2026)” sets a target for the local sector to achieve an annual gross merchandise value of 600 billion yuan (US$84.6 million) by 2026, emphasizing the importance of growth and adherence to the set guidelines.
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Shanghai bets on live-streaming economy to boost China’s anaemic consumption
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