Chinese short video platform Kuaishou and Suzhou’s Municipal Government have recently signed a strategic cooperation agreement that will see future investment in high-quality resources promote the settlement of Kuaishou’s e-sports headquarter in Suzhou while also boosting the transformation and development of Suzhou’s digital industry.
In recent years, relying on the advantage of its vast resources, Suzhou has promoted the development of key industry links including e-sports products, gaming tournament brands, e-sports teams, venue management and live-streaming platforms. Suzhou has hosted several international and domestic gaming events such as the World Cyber Games (WCG) Finals and the World Electronic Sports Games (WESG) Asia Pacific Finals, both of which helped grow the city’s e-sports industry.
Established in 2015, Kuaishou now has over 3,000 short video organizations on its platforms and has more than 4 million online livestreaming hosts. In February 2021, the Chinese short video company was listed on the HKEX, with an IPO worth $5.4 billion and annual revenue of RMB 58.78 billion in 2020.
Kuaishou, with its leading edge in the field of short video and live-streaming, is empowering regional industries in their efforts to upgrade their promotion of urban cultural tourism resources, government propaganda, media integration and talent training.
This July, Suzhou Kuaishou E-sports Information Technology Co., Ltd. was established. At present, the Honor of Kings KSG team owned by Kuaishou has already settled in Suzhou. In the future, both parties will develop new businesses and explore new models in fields such as e-sports, sports and entertainment, industrial transformation and so on.
Next, Kuaishou will invest resources in aspects including platform network traffic, technology, e-sports events, short videos and e-sports talents training. The branching out of resources is meant to enhance Suzhou’s influence and attractiveness to potential investors and business owners.