Interpretation of the Ministry of Commerce on "Opinions on Accelerating the Innovative Development of the Retail Industry"

On July 9, the person in charge of the Department of Circulation Development of the Ministry of Commerce interpreted the "Opinions on Accelerating Innovation and Development of the Retail Industry." The "Opinions" provide a systematic deployment for promoting the development of the retail industry. Centered around planning and rational layout, improving the quality of goods and services, optimizing existing stock and increment, promoting fair competition, the Opinions aim to drive resources towards physical retail aggregation, policy measures towards physical retail bias, and workforce towards strengthening physical retail, striving to establish a modern retail system by 2030 that is reasonably laid out, of high quality supply, diverse in format, smart and convenient, with orderly competition. The goal is to create a number of influential retail scenes, introduce innovative business models, nurture internationally competitive retail enterprises, significantly enhance the industry's overall competitive strength, livelihood service ability, and consumer-driving capacity. The Opinions also outline key tasks, including planning new layouts systematically, leading new retail supplies, creating new consumer demands, stimulating new retail dynamics, creating a new competitive environment, and supporting the growth and improvement of retail enterprises. In the next steps, the Ministry of Commerce will work together with relevant departments to strengthen coordination, guide local areas in policy and management innovation, promote industry format and model innovation, timely summarize and promote good experiences and practices, and drive innovation and high-quality development in the retail industry.