Daily Digital Pulse of China: Foxconn & WeChat E-Trading
Foxconn to launch B2B e-trading platform
Hon Hai Precision Industry — the world's largest contract electronics maker, also known as Foxconn — will launch a business to business (B2B) trading platform in early March, a move perceived as a way for the company to broaden its business model. As the first step for the new initiative, the company will develop a B2B e-trading business by launching a platform called B2BFoxconn.com, which will become a venue for selling semi-finished electronics products in the initial stage. Hon Hai has ambitions to transform itself into a commerce-oriented company from a manufacturing heavyweight by selling its products by itself, and that the B2B platform is expected to help the manufacturer reach this goal. Hon Hai will develop its commerce operations in a bid to provide value-added services to its clients.To facilitate the e-commerce development, the new business will be supervised directly by Hon Hai's headquarters, while the company will coordinate its subsidiaries in a bid to develop their e-commerce platforms.
Source: Want China Times
WeChat Used For Art Sales In China
The use of Chinese instant messaging app WeChat as a sales channel for collectors has added an unintended feature to the popular smartphone application. The number of deals struck over mobile phones for art works and artifacts are on the rise in China, and WeChat's "friend circles" feature has made the app the most favoured option among collectors. Antique shops have also joined the bandwagon, with one vendor of Song dynasty (960-1279 CE) ceramics in central China's Henan province saying that his sales through WeChat have grown five folds compared to sales through his physical store. The shop owner said that WeChat offers an atmosphere of sharing a hobby among collectors similar to that in the real world since they can comment on the photo of an item and chat with others through texts, voice messages or video calls. Meanwhile, art expert Zhou Zhiyao said that WeChat has helped antique shops, dealers and collectors to share information in a more efficient way and garner popularity. There have been some collectors who conducted auctions through WeChat on a small scale, Zhou said, adding there is a potential for such a format to play a supplementary role for traditional auctions in the future.
Source: China's Future