The news: Chinese ecommerce giants are heeding the government’s call to help boost domestic consumption and support local manufacturers to cushion the blow of a rapidly escalating trade war with the US.
What companies are doing: JD.com, Alibaba, and Meituan are among the companies looking to help export-oriented manufacturers sell their wares to local Chinese consumers.
- JD pledged to buy at least RMB 200 billion ($27.9 billion) worth of goods previously slated for export over the next year and will also offer manufacturers ecommerce training, subsidies, and other support to help them pivot to the domestic market.
- Alibaba’s Freshippo grocery chain is launching a 24-hour fast-track onboarding channel designed for exporters to set up shop on its platform, and will launch a dedicated section to showcase those companies’ products.
- Food-delivery company Meituan also committed to helping manufacturers begin selling on its platform, offering marketing, operations, and delivery support.