Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

Pinduoduo to subsidize brand products sales to upgrade rural shopping

February 15, 2019


Abstract : Chinese social e-commerce platform Pinduoduo will spend at least 500 million yuan (73.8 million U.S. dollars) in subsidies to support sales of brand-name products in small cities and rural areas in 2019, the company announced Friday.

BEIJING, Feb. 15 (Xinhua) -- Chinese social e-commerce platform Pinduoduo will spend at least 500 million yuan (73.8 million U.S. dollars) in subsidies to support sales of brand-name products in small cities and rural areas in 2019, the company announced Friday.

The company has established partnerships with over 100 brands covering fields from food to consumer electronics to subsidize their sales with the aim of bringing more authentic and quality products to the country's less developed regions.

Over 600 million products have been sold since Pinduoduo launched two online stores focusing on brands and home appliances last August, most of which went to fourth and even lower-tier cities.

These efforts will speed up sales of brand-name products in less developed regions while pushing out knock-offs, said Pinduoduo co-founder Da Da.

Founded in 2015, Pinduoduo is known for offering group buying deals with big discounts and enjoys a huge consumer base in rural areas and small cities.

The NASDAQ-listed company earlier this month announced a follow-on public offering plan worth over a billion U.S. dollars, which will be used to enhance and expand its business operations, for research and development, and for general corporate purposes and working capital, including potential strategic investments and acquisitions.

Scan the QR code and push it to your mobile phone

Keyword: brand pinduoduo subsidy

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial