China unveils e-commerce guidelines to advance the real economy

China has released a policy document to advance high-quality e-commerce and better serve the real economy. The document was jointly issued by the Ministry of Commerce and five other authorities.

China has been the world's largest online retail market for 13 consecutive years, now covering 26 million domestic businesses, the commerce ministry highlighted. It has also established Silk Road E-Commerce partnerships with 36 countries, with cross-border e-commerce accounting for over 6% of total goods trade, and serving 3.2 billion global customers.

The new policy will deepen integration between the real and digital economy, and advance institutional opening-up for e-commerce, the ministry said. The policy entails several specific measures.

On empowering efficacy, the guidelines support SME transformation, deepen rural e-commerce, and develop industrial e-commerce to consolidate the foundation of the real economy.

In terms of innovation-driven development, the document calls for the application of technological innovation, developing high-quality consumption and building integrated platforms.

To promote high-level opening-up, the document puts forward promoting cross-border e-commerce, expanding Silk Road E-Commerce, accelerating institutional opening-up, and advancing rule alignment, to jointly build and share China's large e-commerce market.

For a sound ecosystem, China will strengthen platform responsibilities, enhance regular supervision, and guide compliant global expansion to promote win-win development for all stakeholders.

On key support and safeguards, it outlines three measures, including improving financial services, unlocking data value, and enhancing targeted talent training.