Chinese livestreaming industry booms as company registration soars

TIANJIN -- China has seen fast growth in its livestreaming industry over the past years, data showed.

In 2019, annual registrations of Chinese livestreaming companies reached 5,684, an over 17-fold increase compared with a decade ago, according to data released by Qcc.com, an enterprise credit inquiry system platform.

The livestreaming industry achieved rapid development during the COVID-19 epidemic. Since March, the monthly registration of livestreaming enterprises reached a record high. In May, the number hit 2,877, 684 percent higher than the same period in 2019.

Livestreaming covers a vast array of enterprises including e-commerce, online games, and entertainment.