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“Daddy Ma, Are You OK?” – Jack Ma’s Situation Discussed on Chinese Social Media

Public sentiments on Jack Ma have shifted, but the fans still defend their idol.

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Chinese tech superhero Jack Ma has become a hot topic on international social media this month since he has been missing in action for weeks, while Alibaba is facing an anti-monopoly investigation. Ma seems to have fallen out of favor, not just with authorities but also with many Chinese web users.

This month, the alleged ‘disappearance’ of Alibaba founder Jack Ma made headlines in various English-language media, from Reuters to CNN and the Financial Times.

The direct reason for speculation about Jack Ma’s whereabouts was his absence at Africa’s Business Heroes, a talent show he helped create in which Ma was part of the finale judge panel. According to FT.com, the final – which won’t be broadcasted until spring – took place in November.

Although an Alibaba spokesperson explained Ma’s absence from the show as a “schedule conflict” that made it impossible for the tech tycoon to participate, many Twitter users directly tied his ‘suspected missing’ to a critical speech he gave at the Shanghai Bund Finance Summit on October 24 of 2020.

In this speech, Ma made critical remarks on how China’s financial market is regulated and supervised. Kevin Xu at Interconnected provides an English translation of this speech here.

On November 3rd, two days before Alibaba’s fintech subsidiary Ant Group was set to raise around $37 billion with the biggest initial public offering of all time, Chinese regulators abruptly suspended the process. A report by the Wall Street Journal claimed that Chinese President Xi Jinping personally made the decision to halt the IPO of Ant Group after years of rising tensions between Ma and the government.

Pressure on Jack Ma and Alibaba further increased in December when Chinese regulators launched an anti-monopoly investigation into Alibaba and the Ant Group.

Alibaba announced the investigation of its company on its official Weibo channel on December 25 of 2020.

On December 25, People’s Daily also reported the anti-monopoly investigation. The state newspaper hosted a hashtag page about the matter on Sina Weibo (#人民日报再评阿里巴巴被调查#) which garnered over 240 million views. They wrote:

Large Internet platform companies should take the lead in strengthening industry self-discipline, in further enhancing their sense of social responsibility, and in safeguarding a favorable Internet economic ecosystem. The Internet industry has never been, and should never become, a place that is outside the law for anti-monopoly. Regarding platform economy, reinforcing anti-monopoly regulations is never a “winter” for the industry – it is just a new starting point for better and healthier development.”

Although Chinese official media have since not reported much on the issue, and have not published about Ma’s alleged ‘disappearance’, Ma’s whereabouts and his situation has become a much-discussed topic on various Chinese social media platforms.

 

Jack Ma in Short

 

Being among the top 20 richest people in the world, Jack Ma is world-famous as the founder of Alibaba, a multinational tech company specializing in e-commerce that was founded in 1999.

Jack Ma, whose Chinese name is Ma Yun 马云, was born in Hangzhou in 1964 to a family of low status. His life story has been retold in many books. Ma was bullied at school, had poor math skills, and flunked the entrance exam twice before he was accepted into the Hangzhou Teacher’s Institute, where he graduated in 1988 with a Bachelor of Arts in English.

Ma had been interested in English since he was a young boy. He would cycle to the main hotel in his city to connect with foreign tourists, acting as their local tour guide in return for English classes. The name ‘Jack’ was given to him by one of the tourist friends he made at that time.

image via kknews.cc

Ma went on to become an English teacher and barely even touched a keyboard before he traveled to the US in 1995 as an interpreter. It was during this trip that he was first introduced to the internet, after which he became inspired to set up his own commercial web site in China – a web site named ‘China Pages’ for Chinese businesses.

Although that business flopped, Jack Ma founded Alibaba in 1999, which would turn into an internet giant influencing virtually all corners of China’s digital world. The Alibaba Group now operates numerous businesses, including Taobao, TMall, AliExpress, and the Ant Group.

Ma’s success is a source of inspiration to many, and his ‘crazy Jack’ energetic behavior and willingness to make fun of himself has only made him and his story all the more captivating.

A younger Ma in one of his fun song-and-dance appearances – as Snow White.

Ma officially stepped down as Alibaba’s CEO in 2019 but is still the company’s largest individual shareholder.

 

“What’s up with Ma Yun?”

 

Until recently, Jack Ma was one of the more popular Chinese celebrities on social media. Jack Ma quotes, memes, videos, or stories would frequently go viral.

As one of the most respected and powerful entrepreneurs of China, bookstores have entire sections dedicated to Jack Ma and his role as a business magnate, the richest man of China, and also as a welldoer and an inspiring influential.

Books about Jack Ma.

Whatever Ma would say or do would go trending, with many people praising what he did, what he said, or where he went.

In 2017, the meeting between US President Trump and Alibaba’s Ma was a big topic of discussion, with many Chinese web users taking pride in Ma’s meeting with Trump, calling him the perfect ambassador to China in their dealings with Trump. “Ma Yun [Jack Ma] for president!” was a much recurring phrase.

It is a phrase you won’t read as much, if at all, on Chinese social media these days anymore. The silence surrounding Jack Ma recently has led to speculation and reflections on his current situation.

On Chinese search engine Baidu, the search prediction reflects web users’ confusion over his whereabouts; upon searching for ‘Ma Yun’ in the first week of January, the first five automatic predictions are the following:

– Jack Ma fled abroad
– Did Jack Ma really flee abroad?
– Jack Ma sentenced to prison
– Jack Ma disappeared
– Jack Ma Shanghai Bund speech

On Douyin (the Chinese TikTok), the first sentence to come up when searching for Ma Yun, is “What’s up with Ma Yun?”

On Weibo, where Jack Ma has over 26.4 million followers on his official account, there have not been any new posts since October 17. But Ma’s last post, which talks about an educational event, is still attracting new comments every few minutes.

“Daddy Ma, come on, ok? We’re rooting for you,” one commenter writes.

“We haven’t seen you in a long time, Brother Ma,” some write: “When will you come back into the public arena?”, with others saying: “Teacher Ma, what happened?”

But besides the messages from those who seem concerned about the well-being of the tech tycoon, there are many angry ones.

Some blame Ma for praising the ‘996’ work system (working from 9am-9pm, 6 days a week). In 2019, Ma called the 12-hour working day a “blessing,” causing much controversy online. Because the death of a young employee at Pinduoduo was also linked to her long working hours, the ‘996’ work system is a hot topic this week, with many condemning how Chinese tech companies are exploiting their employees and revisiting Ma’s 2019 comments.

Others also turn to Jack Ma’s Weibo page to complain about the shutdown of Alibaba’s music streaming app Xiami. Although Xiami only holds a small percentage of China’s music streaming market – apps such as QQ Music and KuGou are more popular – there are still many people who have been using the app for years and hate to see it go: “Why can’t you give it another chance, why can’t you take care of our Xiami!?”

And then there are those commenters who, in light of the recent developments and anti-monopoly investigations, call Ma a “greedy capitalist” and a “bloodsucker.” “Maybe he’ll be punished,” one person writes: “Is that a ‘blessing’ too?” “I went from being a fan to a hater,” another commenter writes, with others calling him an opportunist.

 

Changing Sentiments on Social Media

 

Jack Ma used to be an idol for many young people in China, but now it seems they have started to oppose him. On the Chinese video sharing site Bilibili, mainly used by younger generations, comments appearing in some videos featuring Ma are filled with anger and scolding.

This shift in Ma’s popularity among young people was recently also explained by young Chinese vlogger Yu He in this video, who argues that young people do not adore Jack Ma in the same way older Chinese people do.

Ma’s vision of working really hard, praising the ‘996’ work culture, and “everybody can be successful if you really try hard” was an inspiration to previous generations, but many post-90s people in China today – who are struggling in a highly competitive job market – do not have a lot of faith in Ma’s work philosophy when their everyday lives are not about working to live, but about living to work. To them, Ma’s ideas about working around the clock to get further in life do not make sense, as some feel they are working themselves to death while others get rich.

There is also anger over consumer lending platform Huabei, a product of Alibaba’s Ant Group. Huabei previously encouraged users to spend more money in its ads, and its platform makes it very easy to spend money first and pay it back later – even for those who might not oversee the long-term consequences of excessive debt.

The question of why Jack Ma seems to have fallen out of favor with many Chinese people is also a topic of discussion on question-and-answer platform Zhihu.com.

One popular analysis by the e-commerce account Zhiser claims that Jack Ma used to be supported by the ordinary people because he made it possible for so many of them to make money through the Taobao marketplace platform, which started in 2003. Alibaba’s Alipay online payment platform made it possible for common people to conveniently transfer money without extra fees.

But over recent years, Zhiser argues, Alibaba’s business strategies have changed in such a way that its own profits are maximized and small sellers are negatively impacted.

With the arrival and growth of Alibaba’s Tmall, where only brand owners or authorized dealers can open an online store & where transaction commissions are much higher, the traffic of small sellers on the Taobao marketplace has been reduced. Alibaba’s activities are increasingly focused on benefiting the bigger companies – and itself -, while small entrepreneurs are increasingly struggling to be noticed and make money.

Without the means to open their own Tmall shop, without the capital to afford advertisement and paid promotions for their shops, the small sellers are watching helplessly how the big boys dominate the platform algorithms and take the money, Zhiser explains.

Alibaba is now also increasingly focusing on the fruit & vegetable market. There’s Alibaba’s Hema Fresh supermarket brand, for example, with big plans to open hundreds of stores nationwide in the upcoming years. The rise of Alibaba’s fresh food businesses directly impacts the livelihood of ten thousands of ordinary Chinese who have their own small vegetable shops or street stalls – exactly those people who are already in vulnerable social groups.

Although the rise of Alibaba was once a great opportunity for common people, the changing business strategies have now resulted in Jack Ma getting more enemies, including small entrepreneurs, small sellers and buyers, offline shops, offline vendors, etc.

For them, the ‘Alibaba dream’ of using the power of the Internet and technological advancement to enable small businesses and young people to share the benefits of free trade has lost credibility.

“These years, Jack Ma has played the role of the destroyer rather than the savior,” the author writes. His article received over 10,500 endorsements.

Zhiser’s article reflects a perspective that surfaces in many places. “We believed him, that he really was making things better for us,” another blogger writes.

Others think that Jack Ma was true about his intentions and dreams when he was a teacher and then started his business, but changed when he became surrounded by money-driven big investors, causing him to become alienated from his former ideas and philosophies, losing touch with China’s younger generation, the small shop owners he promised to serve and the ordinary people.

 

“He changed China, he changed the world”

 

Despite the recent criticism of Ma, many people still defend and support him. There are even those who criticize him but still express their admiration for him.

Regarding the criticism coming from post-90s generations, one Chinese web user commented:

You have no idea what it was like before Jack Ma came around. You’re too young to know. If you want to go back [in that time], I suggest you go live on the moon.”

Discussing the changing sentiments regarding Ma, Zhihu author Qing Rui writes:

Jack Ma is a great entrepreneur of this era. He changed China, he changed the world. A lot of nonsensical people scold him for damaging China’s real economy, while he’s actually worked hard to improve the efficiency of the business sector, which has not only greatly boosted the real economy, but also greatly improved the living standards of the Chinese people.”

It is a sentiment shared by many, who express that they think the recent shift in views on Ma is uncalled for, or reminding people of the positive effect Ma and his businesses have had on China’s development.

“Those who scold Jack Ma are brainless idiots,” some write.

“How is it possible for the public opinion on Daddy Ma shifting 180 degrees? It’s like throwing stones at someone who fell down,” one Weibo user from Shenyang writes.

Although perhaps less crowded than before, online ‘Ma Yun Fanclubs’ are still active. One Weibo fan writes: “Let’s all hope our favorite idol Ma Yun will smoothly sail through this crisis!”

As for the ‘disappearance’ of Jack Ma that has previously been reported – although Ma has not been out in public, it is highly unlikely that he is actually missing.

CNBC reported on January 5 that the Chinese billionaire is lying low, according to a person familiar with the matter.

When famous Chinese actress Fan Bingbing got caught up in a tax evasion scandal in 2018, her ‘disappearance’ also made headlines in international media. After months of silence and wild rumors, the actress returned to social media with a public apology. She was ordered to pay taxes and fines worth hundreds of millions of yuan.

Meanwhile, Jack Ma’s Weibo page is still receiving dozens of new messages. In between the “evil capitalist” scoldings, there are some who really hope Ma will come back to public life soon: “We’ll support you, teacher Ma, don’t give up!”

 

By Manya Koetse

Spotted a mistake or want to add something? Please let us know in comments below or email us. First-time commenters, please be patient – we will have to manually approve your comment before it appears.

©2021 Whatsonweibo. All rights reserved. Do not reproduce our content without permission – you can contact us at info@whatsonweibo.com.

Manya Koetse is the founder and editor-in-chief of whatsonweibo.com. She is a writer, public speaker, and researcher (Sinologist, MPhil) on social trends, digital developments, and new media in an ever-changing China, with a focus on Chinese society, pop culture, and gender issues. She shares her love for hotpot on hotpotambassador.com. Contact at manya@whatsonweibo.com, or follow on Twitter.

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3 Comments

3 Comments

  1. Chin CKit

    January 10, 2021 at 7:04 am

    Jack Ma the Chinese Mr. Bean.

  2. Olivier VEROT

    January 11, 2021 at 1:09 pm

    great post @Manya.
    Very interesting to see the fight between nationalist (and army of the propaganda) and the true fan of Jack Ma.
    Jack is a real leader and inspire hundred of thousand of business men in China.
    He is missing creating a real problem in the society…
    The fight between billionaires and state.

  3. slitherio

    January 27, 2021 at 5:09 am

    We’ll support you, teacher Ma, don’t give up!

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China and Covid19

The Curious Case of the Henan Bank Depositors and the Changing Health QR Codes

“It must be American hackers who did this, right?”, some Weibo commenters wrote in light of the miraculously changing Health Codes.

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Where can people turn to once their money seems to have gone up in flames? How could Health Codes randomly turn from green to red? And who will stand up for justice? These are the questions asked by Chinese netizens in the Henan bank depositors case that is making headlines this week.

This week, the story of a Henan banking scandal and depositors’ Health Codes suddenly turning red triggered online discussions in China and even made international headlines.

In between online deposit products, financial platforms, regional banks, and Health Code systems, the story is a bit messy. Here, we’ll explain the story and its latest developments.

 

DUPED DEPOSITORS

 

The story starts in April of this year when people discovered that they were unable to withdraw money they had invested in online deposit products offered by various smaller regional banks.

Some people had deposited money via the Baidu money app (Du Xiaoman Financial 度小满), others had used another third-party platform, intermediaries, or one of the mini-programs run by the banks themselves.

By early May, it had become clear that dozens of depositors who once thought they had invested their money wisely had actually been duped. Four of the banks involved are located in Henan province, namely: the Yuzhou Xinminsheng Village Bank (禹州新民生村镇银行), Shangcai Huimin County Bank (上蔡惠民村镇银行), Zhecheng Huanghuai Community Bank (柘城黄淮村镇银行), and the Kaifeng New Oriental Country Bank (开封新东方村镇银行).

But there are also other smaller banks involved, including Guzhen Xinhuaihe Rural Bank (固镇新淮河村镇银行) and Yixian Xinhuaihe Rural Bank (黟县新淮河村镇银行) in Anhui.

As reported by South China Morning Post by late May, multiple customers had confirmed that they had not been able to withdraw funds either online or in person.

The sudden apparent closure of their withdrawal channels set off a wave of panic among depositors, who then protested in the provincial capital of Zhengzhou on May 23rd, demanding the return of their money.

Yang Huajun (杨华军), deputy director of the Henan branch of China’s Banking and Insurance Regulatory Commission (CBIRC), arrived at the scene of the protests and – speaking through a megaphone – promised the demonstrators that as long as their funds were “legally” deposited, they would be protected by law.

Many depositers, however, were unsure of whether or not their deposits were actually made in a “legal” way and what the definition of “legal” entailed in this case.

Over the past years, Chinese smaller rural banks have partnered with online platforms, often offering relatively high returns, in order to boost their deposit-reliant funding base.

In December of 2020, platforms Alipay, Du Xiaoman Financial, JD.com and Tencent Wealth Management all suspended the sale of online deposit products via their financial apps in light of heightened scrutiny from regulators concerning funds raised by unstable smaller lenders.

The smaller banks that are now at the center of the recent financial scandal then (illegally) reached out to their existing customers directly after December 2020 and convinced them to download the banks’ apps in order to deposit even more money.

One of the persons duped is Mr. Sun from Shenzhen. As reported by Sina Finance, it was in 2020 when Sun came across a seemingly attractive online saving product via the Du Xiaoman Financial app. Although Sun was not familiar with the banks in question, namely the Yuzhou Xinminsheng Village Bank and Shangcai Huimin County Bank, he could not resist the deposit interest rate of 4.6%, which was much better than what the big banks were offering at the time.

In early 2021, Mr. Sun received a text message from Yuzhou Xinminsheng Village Bank saying that although the financial products had been taken offline, users would still be able to deposit through the bank’s own online application. Mr. Sun ended up depositing his entire savings into the Henan-based rural bank, thousands of miles away from his own home.

And then, earlier this year, Sun came across the news that Henan New Wealth Group, the primary shareholder of all banks involved, was under investigation for fraudulous practices. When he opened up his online financial application, there was nothing to see but a notice that the system was under maintenance. Sun could no longer access his funds. Hundreds of other customers were seeing the same empty screens.

According to media reports, the current suspected scam case affects some 400,000 customers of seven local banks and involves a money sum of 40 billion yuan ($5,6 billion).

 

IN THE RED

 

As thousands of depositors have been fighting to recover their savings over the past two months, they were duped a second time earlier this week. Dozens of affected depositors claimed they had seen their Health Codes turn red without any logical reason on June 13 or June 14 – the day of a planned protest.

In China’s Covid era, the Health Code system has become a pivotal tool in the country’s battle to contain the spread of the virus. The Health Code system is embedded in various apps, most importantly in Wechat and Alipay, and uses various data to assess an individual’s exposure risk. There is not one unified national Health Code application; they are developed by different actors and their management is different across Chinese provinces and cities.

If there is no detected risk, an individual is assigned a Green QR Code and is allowed access into any venue or location where a QR code scan is mandatory. With a Yellow Code, you should stay home for a week, and Red Code means you are high risk and need to quarantine for 14 days – this severely limits your freedom to move around and travel.

On June 13th, many affected investors saw their Health Code turn red when arriving in Zhengzhou, where they were allegedly coming to retrieve their savings and protest the injustice they suffered. The QR code color change was unexpected and strange, considering that there were no new reported Covid cases in their vicinity and also considering the fact that accompanying family members who made the exact same journey did not see their Health Codes change.

This raised suspicions that the duped depositors were specifically targeted, and that their Health Codes were being manipulated by authorities.

CNN reported that many distributors who had come to Zhengzhou were taken to a guarded quarantine hotel before being sent back to their hometowns via train the next day. According to a Chinese media report by Nanfang Daily, the depositors were not even asked to do nucleic acid testing and were told by local staff that they would get their Green Code back as soon as they left Henan.

Various media report that minimally 200 depositors saw their Health Code change from Green to Red earlier this week.

 

“OPERATION CODE RED”

 

The curious case of the Henan depositors scandal and the changing Health Code colors has become a trending topic on Chinese social media this week.

The topic of the duped depositors was also discussed online before this week, and it brought back memories of earlier financial scandals, such as the P2P chaos that occurred back in 2018.

But the topic of depositors’ Health Codes changing to Red is something that attracted much wider discussions on the apparent abuse of a system that has now become a part of everyday life for people in China’s Covid era.

The main proof for people that the Henan depositors were targeted in this apparent “Operation Code Red” is that, as mentioned before, the family members that were traveling together with the duped depositors never saw a change in their Health Code: those people who were listed on the affected regional banks’ depositors list were seemingly singled out and purposely targeted.

“Who is in charge of changing the Health Code colors?” became a much-asked question on Weibo, with many blaming local Henan authorities for abusing their powers to try and stop protesters from raising their voices in Zhengzhou. One Weibo post on this issue received over 1,6 million views. Meanwhile, Henan authorities still said they did “not understand” what had happened.

“It must be American hackers who did this, right?”, some Weibo commenters wrote, putting in a sarcastically smiling emoji, with others adding: “No, the aliens did this – it must have been the aliens!”

Others wrote that the situation at hand should be simple to figure out: “There is no way that this is an oversight or a data error. If you want to know who did this, look at who or which department has the authority to manage both epidemic prevention measures as well as finance affairs.”

Many comments also showed a sense of disillusionment with how China’s Covid management affects the people: “After seeing the chaos during the Shanghai lockdown, this does not even surprise me anymore,” one person wrote on Weibo: “All we can do is pray that it won’t happen to us.”

“Why is Henan’s “messy Red Code” incident so extremely vile and scary? Because once a person or institution holding public power looks at you in a bad light, they can give you a Red Code and take you away, in the name of legality. This is the evil that comes from unmonitored power,” one blogger from Anhui wrote.

Other people also worried about foreign media reporting on this issue, saying this incident is being used to cast China in a bad light while local authorities are to blame: “We should unify the Health Code system into a national system in order to avoid this from happening again.”

According to Chinese state media reports, the case has now been forwarded to the Health Commission of Henan Province for further investigation.

We will keep tracking upcoming developments. Meanwhile, check out our other reports on trending topics relating to China’s banking and finance here. For more about Covid-related trending topics, check here.

By Manya Koetse
With contributions by Miranda Barnes

Image via Weibo

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References (all other sources included in hyperlinks)

Lee, Amanda. 2022. “Rural Banks Freeze Customers’ Accounts.” South China Morning Post, May 31.

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China Digital

From Teacher to Livestreamer: Ecommerce Move is Game Changer for China’s New Oriental Education

New Oriental is going from classroom to e-commerce. Online shopping has never been more educational.

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After laying off 60,000 staff last year, Chinese private education company New Oriental is now offering unexpected new employment opportunities for teachers in the livestream market. Changing e-commerce channels into virtual classrooms, New Oriental has hit the sweet spot with Chinese netizens.

Last year, an unprecedented crackdown on China’s private education sector left many teachers unemployed and worried about their future.

China’s so-called ‘double reduction’ (双减) policy was announced in August of 2021 and targeted “excessive homework” and off-campus tutoring for students in the mandatory nine-year education system. The new regulations imposed strict sanctions on existing private education institutions, forcing them to register as non-profit organizations. Foreign investment in the private tutoring sector was also banned.

One of the companies that was hit particularly hard by this policy is New Oriental (新东方), the largest provider of private educational services in China. Following the crackdown, the company suffered huge losses and dismissed 60,000 employees.

Facing the new regulations, including the ban on for-profit tutoring in subjects on the school curriculum, New Oriental tried to keep its head above water by exploring new markets and ideas within the private education sector. For example, the company launched a special program to train parents on how to tutor their K-12 children themselves. New Oriental called it their “excellent parenting” (优质父母) training class.

Now, nearly a year later, another initiative by New Oriental has become an online hit. Inspired by the success of livestream e-commerce in China, the tutoring company started its own livestream channels. Although New Oriental already introduced its e-commerce business in late 2021, with founder Yu Minhong (俞敏洪) sometimes hosting the sessions himself, it had not been as much of an online success until it recently introduced bilingual livestream e-commerce sessions.

Now, tutors-turned-sellers are teaching viewers English – or sometimes other subjects – while selling (agricultural) products via the Douyin app. Whether they are selling fruit, rice, or even shrimp, New Oriental’s livestream hosts are grabbing every opportunity to teach their viewers a new word or concept, often using a whiteboard to introduce new vocabulary.

Whatever they’re selling, New Oriental’s livestream hosts make sure it’s educational.

One reason for New Oriental becoming a viral hit is because of Dong Yuhui (董宇辉), who is one of the experienced teachers now selling products online. Dong’s bilingual livestreams are particularly successful among viewers because of his enthusiasm, fluency in English, witty jokes, personal stories, and talent for singing.

Teacher Dong recently had a breakthrough moment with his June 10th livestream, during which he sold bags of rice using English. He has since attracted over nine million viewers. While thanking all viewers for their support in a recent Weibo post, Dong described himself as a “ordinary peasant boy.”

Dong Yuhui (董宇辉) is one of the livestreamers that have turned New Oriental’s e-commerce into a viral hit.

Besides Dong, there are also other popular hosts. English teachers Ming Ming, Yoyo, and Dun Dun are all loved by viewers for their charm and wit.

Although various kinds of social e-commerce categories are particularly popular in China, this new phenomenon of combining education + e-commerce + livestream is appreciated by many netizens who like to learn something while being entertained and perhaps also buying something. “I don’t know whether to place an order or to make notes,” has become a popular comment. Another commenter said: “As a kid I took your class, and now I buy your goods.”

Others say that they like the calm way in which the livestreams are presented, posing a stark contrast to other livestreams where the hosts are hyping up products and urging people to buy fast and buy more.

On June 15th, news came out that New Oriental’s stocks had surged by more than 25% following its livestreaming success.

Although some Weibo users predict that this is just a temporary trend, others think that the educational livestream model is here to stay: “New Oriental really started a new business venture, and I’m learning a lot through their livestream sessions.”

By Manya Koetse
With contributions by Miranda Barnes

Image via Weibo

Read related article: China’s Crackdown on Tutoring Schools: Concerned Parents and Teachers on Weibo

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