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On August 19, Shanghai Municipal Party Committee Deputy Secretary and Mayor Gong Zheng presided over an executive meeting of the municipal government. The meeting agreed in principle to the "Shanghai Three-Year Action Plan for Promoting High-Quality Development of the Live Broadcast Economy (2024-2026)" and pointed out that as an innovative economic form in the digital age, Shanghai's live broadcast economy is developing rapidly. It is necessary to speed up the improvement of the industrial ecosystem, strengthen the cultivation of entities, optimize comprehensive services, and strengthen the leading live broadcast platforms.

Regarding the live broadcast economy, the meeting proposed that efforts should be made to increase the economic contribution, promote both commodity sales and service consumption, accurately promote business, travel, culture and sports resources, and stimulate consumption potential in catering, culture, tourism, sports, etc. It is necessary to promote the standardization of industry development, adhere to the correct value orientation, adhere to inclusive and prudent supervision, and establish and improve a fault-tolerant and error-correcting mechanism.

This means that Shanghai will further strengthen the construction of the live broadcast ecosystem in the next three years. In addition to live broadcast sales on e-commerce platforms, the role of live broadcast in driving consumption in catering, culture, tourism, sports, etc. has also attracted attention. Local life live broadcast will usher in new development opportunities.

In 2021, the Shanghai Municipal Commission of Commerce, the Municipal Economic and Information Commission, the Municipal Culture and Tourism Bureau, the Municipal Market Supervision Bureau, and the Municipal Cyberspace Administration jointly compiled the "Shanghai Three-Year Action Plan to Promote the High-Quality Development of Live Streaming E-Commerce (2021-2023)", proposing to promote the improvement of the energy level of live streaming e-commerce entities, enrich application scenarios, enhance the driving effect, and improve the ecological system.

At present, Shanghai is in a period of growth for live broadcasting entrepreneurship. The reporter learned from Tianyancha that as of August 2024, there are more than 25,000 "live broadcasting" related companies in Shanghai. From January to August 2024, nearly 7,000 new related companies were added, an increase of 15% compared with the same period in 2023. Companies with registered capital of less than 1 million accounted for 44%.

The "Characteristics and Trends Report on the Development of Digital Consumption in Shanghai" released by the Consumer Market Big Data Laboratory of Fudan University shows that in 2023, the scale of online consumption in Shanghai will reach 1.59 trillion yuan, a year-on-year increase of 8.5%, of which live streaming retail sales will reach 437.1 billion yuan, a year-on-year increase of 20.9%, much higher than the growth rate of online retail in the same period, accounting for 10.7% of the national live streaming retail sales. As of 2023, there will be more than 52,300 active e-commerce live streaming rooms in Shanghai. There are more than 80 active live streaming rooms for top e-commerce companies.

From the perspective of live broadcasting organizations, Shanghai has the largest number of top live broadcasting organizations in China. According to statistics from the Forward Economist Industry Observation Group, Shanghai's Mei One and Xianzi Culture are on the list of the top ten MCN organizations in China in 2024, and the number of top MCN organizations is tied with Shenzhen for second place, while Hangzhou has many top MCN organizations such as Yaowang Technology, Qianxun Holdings, Soxiang, and Wuyou Media.

In terms of top anchors, Meiwan anchor Li Jiaqi plays an important role in Taobao live streaming sales, but at the same time, there are not many top anchors in Meiwan or even in Shanghai. Li Jiaqi once said, "Meiwan has been deeply involved in live streaming e-commerce for 9 years, with 30 anchors, 200 positions, more than 600 mid- and back-end colleagues in the live streaming room, and 1,200 employees in the entire company." How to drive the growth of more top anchors and even mid- and waist-level anchors, many Shanghai live streaming organizations still need a more complete live streaming talent training system.

However, from the perspective of live streaming platforms, companies such as Bilibili and Xiaohongshu are all located in Shanghai. At the same time, Xiaohongshu has bet on e-commerce in recent years, driving the development of a group of influencers. The rapid development of Xianzi Culture has benefited from its influence in the field of Xiaohongshu. In the future, how to promote the development of content e-commerce around platforms such as Xiaohongshu and Bilibili is also expected to become an opportunity for the live streaming economy.

Pan Helin, a member of the Information and Communication Economy Expert Committee of the Ministry of Industry and Information Technology, analyzed to the First Financial reporter that Shanghai's promotion of the live broadcast economy is based on Shanghai's industrial positioning in the integrated regional economy of the Yangtze River Delta. He believes that the live broadcast industry, especially the live broadcast with goods, is essentially a productive service industry. Shanghai is backed by the Yangtze River Delta manufacturing cluster, and its role is to promote the sales of consumer goods in the Yangtze River Delta by developing productive services. Shanghai attaches importance to the live broadcast industry, which is based on Shanghai's industrial positioning in the integrated regional economy of the Yangtze River Delta and its advantages in the live broadcast industry.

In his opinion, Shanghai has many advantages in developing the live broadcast industry. First, Shanghai has perfect infrastructure. As an international metropolis, Shanghai's live broadcast is not only for domestic but also for international. Secondly, many policies in Shanghai have boosted the live broadcast industry, such as Chongming District's support for live broadcast sales and preferential fiscal and taxation policies. At the same time, backed by the Yangtze River Delta, a traditional manufacturing cluster, the strong supply chain will make it easier for Shanghai's live broadcast sales to obtain cost-effective products and more likely to be favored by brands.

However, Pan Helin also said that the operating costs of live broadcasting in Shanghai are relatively high. Human resources and low-price costs may become challenges for Shanghai to develop the live broadcasting economy. At the same time, it will take time to improve the live broadcasting supervision system. He believes that the current development of e-commerce live broadcasting mainly focuses on the supply chain. In the future, the new driving force for the development of e-commerce live broadcasting will mainly rely on the improvement of live broadcasting professionalism and the expansion of overseas markets. The potential in this area still needs to be tapped.

In the future, the development of Shanghai's local life live broadcast is also worth paying attention to. Different from e-commerce live broadcast, the development of local life live broadcast focuses on experience sharing. It is necessary to go deep into urban communities, interact with community residents, and highlight local characteristics. On the road of using live broadcast to enhance service consumption, accurately push business, travel, culture and sports resources, and stimulate consumption potential in catering, culture, tourism, sports, etc., more live broadcast services with Shanghai characteristics are worth looking forward to.