(Yicai Global) Sept. 8 -- Sunac Culture, a subsidiary of Chinese real estate developer Sunac China, plans to start retailing liquor through live-stream broadcasts on two popular short video apps.

The social e-commerce project, called Southwest Vertical Live Broadcast E-commerce Industry Base Project, will be based in Chengdu in China’s southwestern Sichuan province, Sunac Culture said on its WeChat account yesterday. It was promoted by Sun Zheyi, president of Sunac Culture and the son of Sun Hongbin, founder and chairman of Sunac China.

The project will use short video apps Douyin, the Chinese version of TikTok, and its rival Kuaishou, to integrate quality resources at various live-streaming platforms with online and offline channels, and improve the efficiency of alcohol retailing, Tianjin-based Sunac Culture said.

Tianjin Runze Property Management, another unit of Sunac China, spent CNY200 million (USD31 million) to buy about a 2 percent stake in Alibaba Group-backed online-to-offline wine and liquor retailer 1919 Wines & Spirits Platform Technology through a private placement on Aug. 9.

1919 Wines & Spirits, set up in 2010, retails and wholesales alcoholic drinks online and through bricks-and-mortar stores. It is listed on the National Equities Exchange and Quotations, Beijing’s over-the-counter market. The firm’s stock price [NEEQ:830993] stood at CNY35.10 (USD5.43) today.

Editor: Futura Costaglione