China unveils guideline to modernize retail industry by 2030

(ECNS) -- Chinese authorities have released a guideline to accelerate innovation in the retail sector, with the goal of building a modern retail system and fostering a number of globally competitive retail enterprises by 2030.

Issued jointly by several government departments, including the Ministry of Commerce of China, the guideline outlines measures to optimize the retail industry's development, encourage new products and business models, and stimulate consumer demand.

The initiative aims to drive the retail sector's innovative transformation and high-quality development.

(By Kira)