According to Hong Lizhou, general manager of Weibo’s marketing strategy, cited by online media outlet South China Morning Post, the e-payment service will allow microblogging users or Weibo users to buy items off the platform, by teaming up with merchants who want to sell products through their corporate microblogs.
Launched in 2009, Sina’s Weibo has over 500 million users to date.
According to a report by Chinas E-Commerce Research Center, the volume of transactions in Chinas online retail market has jumped by 65 percent in 2012, reaching USD 210 billion. The figure is further estimated to increase by 37 percent in 2013.
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