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WeChat QR code powers 9% of China's GDP

By Phate Zhang
May 14, 2020 at 5:19 PM UTC
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Today Tencent WeChat and the China ICT Institute jointly released the 2019-2020 WeChat Employment Impact Report, where employment related to the WeChat ecology was disclosed.

In 2019, the size of the economy around WeChat QR codes reached 8.58 trillion yuan, or about 9 percent of China's GDP (99.0865 trillion yuan), the report said.

WeChat QR code powers 9% of China's GDP-CnTechPost

The report shows that WeChat created 29.63 million jobs in 2019, of which 26.01 million were directly created, up 16% year-on-year and 22% year-on-year since 2014. WeChat indirectly created 3.62 million jobs.

Among WeChat's employed population, young people and undergraduates are the main ones, 55.8% of ecological subjects have more than half of their employees aged 16-29, and 55.0% of ecological subjects have more than half of their employees with a general undergraduate degree.

The proportion of women employed in the WeChat ecosystem is 47.5 per cent.

In 2019, the share of WeChat public platform jobs in the Midwest and Northeast provinces reached 43.6 percent, compared to 29.8 percent for MINI-programs.

15.19 million of the direct jobs created by WeChat in 2019 were part-time, accounting for nearly 60 percent of total direct jobs.

At present, part-time employment based on WeChat mainly includes educational services, media, e-commerce, financial management, emoji design, etc., which focus on skill output.

There is also a certain amount of part-time employment in the operation, development, design and maintenance of WeChat public numbers, mini-programs, payments, etc.

In the first quarter of this year, WeChat had more than 1.2 billion monthly active accounts, according to a financial report released by Tencent yesterday.

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