According to Chen Qiu, vice president of Pinduoduo, the Chinese e-commerce platform, the company has provided direct subsidy of over 5 billion yuan to consumers in the first quarter to boost the consumption.
Pinduoduo boasts about 600 million consumers. Since February, the company has released a series of measures as a further step of its 10 billion subsidy strategy.
The company also said that during this special time, it would not charge commission or annual platform service fee from its vendors, which would help save over operational costs of 80 billion yuan for its vendors. (Source: sohu.com)