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‘We-Media’ platforms describe rapid growth at Xiamen trade expo

(chinadaily.com.cn) Updated:2018-09-10

People  using WeChat, Weibo and other online platforms to do business are  facing numerous challenges posed by rapid growth, according to  participants at the 2018 We-media Expo, a part of the 20th China  International Fair for Investment and Trade, held in Xiamen, Fujian  province taking place through Monday.

"We-Media"  is a general term for internet platforms that deliver business  information to the people in an electronic format, and according to the  statistics released at the expo, business is booming.

A total of 500,000 WeChat official accounts are updated every day, with 5 billion WeChat page views.

There were 700 We-media platforms selling products online in the end of 2016 and the number increased to 10,000 by 2017.

This  year, the number of content e-commerce accounts, which sell goods and  services to consumers through words, pictures and videos, increased 68  percent.

Liang  Chunrong, director of foreign investment promotion affairs bureau at  the Ministry of Commerce, and director of the CIFIT office, said that  everyone is the audience of legacy media and We-media.

Based  on internet technology, We-media breaks the limitations of legacy media  and becomes a new gateway for promotion and consumption of high-quality products. 

In  fact, because of e-commerce, "for the first time, communication and  consumption are directly integrated to make a new powerful business  force," Liang said.

We-media  has high engagement with fans, as e-commerce users tend to understand  fans’ pain spots, habits and excitement very well and their e-commerce products can grab fans' hearts quickly.

China's investors also gave suggestions to the We-media operators on financing at the expo.

Cao  Yue, president of Partner Capital Group, said that We-media operators  should ask for help from professional financial advisors, who will  choose suitable investment institutions and business partners.

Gao  Hongqing, CEO and managing partner of New Margin Capital Co, said that  personalization and high-quality content is the key to a valuable  We-media, which should consistently produce high-quality content through  continuous learning.

Huang  Yantao, executive director of SAIF Partners, said that We-media should  focus on integrating online and offline channels to improve effective  average revenue per user.

The  operators of We-media said that the expo helps them find more products  that fit the tone of their platform and get in touch with new sakes  channels for their products.

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