Kuaishou launches 1 billion RMB subsidy plan for businesses

Short-video platform Kuaishou has announced a new program to provide support for businesses with a service account. This will provide enterprise verification, free membership and subsidies for livestreaming. The platform will also offer training courses on topics such as livestreaming and marketing as part of its “1 billion RMB subsidy plan” which will last from March 5 to April 5.

The project aims to support merchants in adapting to the new world of short video and livestreaming and attracting consumers through digital means. Previously known as a business account, Kuaishou’s service accounts provide merchants and brands with business tools to help market on the platform and improve their operational efficiency. After opening a service account, users can obtain professional guidance about entry to growth conversion, and access a variety of special features and commercial tools.

Kuaishou is a rival of TikTok’s China counterpart Douyin and recently listed on the Hong Kong Stock Exchange which saw its valuation rocket to $160 billion

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