Business
Treasure Global’s ZCITY is Anticipated to be Appointed Operator of Malaysia Pavilion, Tapping into Lucrative China Market
Leading Promotion of Malaysian Products in Shanghai’s Premier International Food Exhibition NEW YORK and KUALA LUMPUR, Malaysia, April 11, 2024 (GLOBE
About this update from Treasure Global Inc.
[{"type":"text","content":"Leading Promotion of Malaysian Products in Shanghai’s Premier International Food Exhibition\nNEW YORK and KUALA LUMPUR, Malaysia, April 11, 2024 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“Treasure Global” or the “Company”), an innovative technology solutions provider, is proud to announce ZCITY is in discussions to become the operator of the Malaysia Pavilion, catapulting Treasure Global into the heart of China’s booming consumer market. This prestigious invitation from the Shanghai Guangxi Chamber of Commerce signifies a landmark opportunity for Treasure Global to showcase and sell high-quality Malaysian products across a myriad of online and offline platforms, including Taobao, Douyin, Kuaishou, and more. The exponential growth of the livestream commerce market in China is significant. From less than 120 billion RMB in 2018, the gross merchandise value of eCommerce live streaming surged to 2.27 trillion RMB in 2021, marking an increase of over 18 times. Recent reports indicated that in 2023, the market had reached a projected value of 4.9 trillion RMB, showcasing its rapid expansion and promising potential.1 With the potential to tap into the vast China market, estimated at over 1.4 billion people, the Malaysia Pavilion represents a gateway to unprecedented revenue streams for Treasure Global. Through authentic Malaysian products, the company aims to foster a sense of trust and reliability in the marketplace. This strategic partnership aligns seamlessly with Treasure Global’s mission to revolutionize digital experiences and drive sustainable growth in emerging markets. Furthermore, as China emerges as a key player in global e-commerce, the establishment of the “Malaysia National Pavilion” at the Shanghai West Suburban International Food Industry Exhibition and Sales Center positions Treasure Global at the forefront of cross-border trade between Malaysia and China. This initiative not only amplifies Treasure Global’s presence in the region but also underscores its commitment to promoting cultural exchange and economic cooperation between the two nations. “The exponential growth of livestream commerce in China further solidifies our confidence in this strategic partnership. Through our collaboration with the Shanghai Guangxi Chamber of Commerce, we are poised to unlock immense value and drive substantial revenue gro...