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CHINA BRIEF | Chinese e-commerce firm sells houses via livestream

The CEO of JD Retail inaugurated the event, with 1,000 homes on sale, as the first streamer, offering a 38.2% discount for a new Beijing apartment.

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Chinese e-commerce company JD.com commenced a livestream sale lottery on Friday of Beijing apartments worth over USD 36 million in total, according to a press release of the company.

The first livestreamer turned to be Xu Lei, CEO of JD Retail, the company’s retail business. During the one-hour show, Xu offered a 38.2% discount for a new Beijing apartment at RMB 2 million (USD 280,500) for one lucky lottery winner—an unheard of price in the capital. Any JD.com user can pay RMB 6.18 to put this apartment into their shopping chart, entering them into a lottery to win the property for that price.

The apartment is among 1,000 Beijing-located apartments JD.com plans to sell via livestreaming, which are valued at about RMB 260 million (USD 36.4 million) in total.

As a direct seller, JD.com selects apartments from the market and “has more bargaining power with suppliers and can bring exclusive benefits to consumers”, according to the press release.

Before this, JD.com has also allowed third-party merchants to sell apartments via livestreaming on its app.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.