Ministry of Commerce: support financial institutions in issuing industry credit policies tailored to the characteristics of the retail industry, and support high-quality retail enterprises that meet the conditions to go public.

On July 9th, the Ministry of Commerce held a special press conference on accelerating the innovation and development of the retail industry. Li Jialu, Director of the Department of Circulation Development of the Ministry of Commerce, stated at the conference that strengthening, improving, and expanding the real economy, as well as the transformation and upgrading of traditional industries, are important focuses. Physical retail is the foundation of the retail industry, an important basis for commodity circulation, and a crucial channel for thriving markets and ensuring employment. In terms of financing support, financial institutions are encouraged to introduce industry credit policies that are in line with the characteristics of the retail industry. Policies like subsidies for the renovation of offline consumer business facilities and loans for service industry operators, support for high-quality retail enterprises to go public, asset-backed securities issuance for qualified retail operators, participation of retail enterprises in green certificate and green electricity trading, among others, are provided to help accelerate industry development. Li Jialu pointed out that in terms of fiscal support, comprehensive planning and coordination will be strengthened to promote the innovation and improvement of the retail industry. Efforts will be made to integrate policies, drive the transformation and upgrading of the retail industry, and promote the combination of new business formats and models with the construction of modern commercial and trade circulation systems, new consumption formats and models, construction of an internationalized consumption environment, construction of convenient living circles within a 15-minute walk, and urban renewal. The aim is to maximize policy effects by promoting the "one store, one strategy" transformation. Regarding talent support, encouragement will be given to retail operation entities to use more contractual labor and accelerate the approval process for positions under special working hours in the retail industry. Support will be provided for partnerships between retail operators and universities, business associations to train diversified and skilled retail talents, and to include qualified retail practitioners in talent introduction policies in various regions to enhance their sense of achievement and honor. The text is based on a press conference held by the Ministry of Commerce to discuss the innovation and development of the retail industry, with various officials presenting initiatives and measures to support the growth of retail businesses.