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Xin Youzhi is the founder of Xinxuan, a hugely successful livestreaming platform in China where he is revered as a star. Fans consider him beautiful and would buy anything from him. The king of livestreaming is in Italy between Fidenza Village and Eataly looking for Made in Italy brands to expand the platform beyond the Chinese borders.
Streaming sales is a large market in China, it has definitely outclassed the old e-commerce, whose champions have converted to new alliances. There have been changes in the rules of the game recently, what effect have they had?
China has strengthened its supervision of the live streaming e-commerce industry and implemented a series of policies, including the ban on false propaganda, the standardization of product quality, and the strict review of live streaming content. At the same time, it also imposed strict regulations on the qualifications, operation, product quality, and consumer rights protection and data security of live streaming e-commerce platforms.
Xinxuan is already a case history. How did you start the business, what is its history?
I was born into a peasant family in Heilongjiang Province. I created five business ventures and as many failures. But then I started an import trading business, which in a few months became a leader in the sector. I have acquired a lot of knowledge about the supply chain and users, I know how to deal with import and export, products and consumers. In 2018, I entered the livestreaming e-commerce industry and thanks to the previous experience, I leveraged the internet traffic a lot and promoted more quality products and supply chains to tens of millions of users.