(ECNS) — China has released a new policy plan aimed at accelerating the modernization of its retail sector, with the goal of building a more innovative, competitive and technology-driven retail system by 2030.
The plan, jointly issued by nine government departments including the Ministry of Commerce, sets out measures to improve retail supply, stimulate consumer demand and support the growth of major retail companies.
Authorities said the initiative seeks to cultivate new retail formats and develop internationally competitive retail enterprises as part of broader efforts to boost domestic consumption.
The plan also includes measures to address competition concerns in both online and offline retail markets. These include stronger antitrust reviews, tighter oversight of pricing practices, unified regulation across sales channels, and crackdowns on false advertising and unfair cost-shifting.
Policymakers further pledged support through financing, tax policies, land-use measures and streamlined administrative approvals to strengthen the sector.
(By Zhang Jiahao)
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