A Shuibei e-commerce livestreaming fair concluded on March 9. More than 600 livestreaming shows were organized over the previous seven days, attracting over 300 million views. The total commodity transaction value reached more than 100 million yuan ($14.49 million).

More than 2,000 people work as livestreaming anchors for about 1,600 gold and jewelry shops in Luohu district’s Shuibei area. The overall sales revenue of gold and jewelry products through these livestreaming platforms in 2021 hit 20 billion yuan, and the district government regards the new model of commerce as a boost to Luohu’s high-quality development.

Over the past 40-plus years, a complete gold and jewelry industry chain has formed in Luohu, with most of the enterprises being concentrated in Shuibei. There are nearly 7,000 gold and jewelry enterprises in Luohu, with annual sales revenue hitting more than 100 billion yuan, and account for about 50% of the gold and jewelry wholesale market in the country.