Shanghai Municipal Commission of Commerce and other five departments in the city jointly released on September 2, 2024 the Three-year Action Plan for the High-quality Development of the Livestreaming Economy (2024-2026). The document sets goals to be achieved by 2026, including generating 600 billion yuan in retail revenue from livestreaming e-commerce, establishing ten leading livestreaming platforms with international competitiveness, developing a series of influential multichannel network (MCN) agencies to manage livestreamers, creating domestically well-known livestreaming event IP brands across various categories, and introducing 100 distinctive livestreaming scenarios.