The 2023 Jiangsu E-commerce Conference concluded in Kunshan on November 23.

The conference announced that Jiangsu’s 12 companies have been recognized as “National E-commerce Demonstration Enterprises.”

At the meeting, Li Mingtao, director of the Research Institute of China International E-commerce Center under the Ministry of Commerce, said e-commerce has generated massive data to shed light on the consumer economy and market trends.

The data can assist brands, producers and others in the supply chain to make more informed decisions, and enterprises can continuously optimize production and enhance core competitiveness.

In the process of digital transformation, Li suggested that the government and industry organizations should provide targeted public services to SMEs.

China's internet penetration rate has reached 76.4%, and new business models, such as livestreaming e-commerce and cross-border e-commerce, have developed rapidly. In the coastal province, online retail sales amounted to 925.33 billion yuan in the first three quarters of 2023, marking an increase of 13.8%.