Per 《
新华词典》: 'logistics term for the owner of goods being shipped.' Originally a freight/shipping term — the shipper as opposed to the carrier (
承运人). Modern e-commerce extended it: in livestream selling,
货主 is the brand or factory supplying the product, distinct from the
主播 (streamer) selling it. Disputes between
货主 and
主播 over inventory, refunds and commissions are routine in the Chinese live-commerce industry.
