The investment is projected to help grow the online penetration of agricultural goods to about US$113bil within five years. It will also foster development of one million rural online shops on Pinduoduo. — SCMP
Social e-commerce giant Pinduoduo is investing at least 50bil yuan (RM30.77bil) over the next five years to initiate online retail programmes in China’s rural areas, helping create a “new infrastructure” to boost nationwide demand for agricultural products.
Shanghai-based Pinduoduo, the country’s No 3 e-commerce services provider by gross merchandise volume, plans to help foster the development of one million rural online shops on its platform during that period, with each store targeted to generate more than 1mil yuan (RM615,432) in annual revenue, according to the company’s announcement on Tuesday.
