As coronavirus sinks global demand, China’s exporters go online to tap domestic market

📆 05/06/2020 15:05:00
📰 Reuters

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As the coronavirus sinks global demand, China’s exporters are turning to the domestic market, seeking out e-commerce and even social media mobile apps to lift their fortunes via Sophie Yu brendagoh_

), or turning to second-hand sites or sellers on social media app WeChat to offload their stock at bargain prices.

Pinduoduo has tied up with the Dongguan government to reach a goal of helping 1,000 brands and manufacturers make a combined 100 billion yuan in sales. Tencent Holdings’s WeChat messaging app has also been a popular tool, with factories outsourcing their excess stock to individuals, who set up chat groups to sell them to friends and contacts.

China’s commerce minister Zhong Shan said last month that domestic sales by exporters rose 17% in April and encouraged them to further increase their local market share.

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brendagoh_ When you have a market of 1.4 billion in your own country you don't need an external market, yet the external market needs you !

brendagoh_ Premature judgement ..

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