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China leads the way as social commerce soars globally: McKinsey

China leads the global boom in the social commerce market, with platforms like Douyin and Xiaohongshu driving significant growth, revenue and consumer engagement.

China leads the way as social commerce soars globally: McKinsey
During this year's 618 festival, Xiaohongshu’s livestreaming sessions saw a 5.4-fold increase in order volumes compared to the previous year. Image: Getty Images

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