Ministry of Commerce: Positive results achieved in the construction of modern commercial distribution system, overall reflected as "one rise, one fall".

According to China Net, Deputy Minister of Commerce Sheng Qiuping answered questions from First Financial Reporter at the State Council Information Office press conference, stating, "Since the "Fourteenth Five-Year Plan", we have taken modern supply chain as the traction, and the high-quality development of wholesale and retail industry as the main line, promoting the construction of a modern commercial circulation system with positive results. In general, it is reflected as "one rise, one fall": "rise" refers to the growth of wholesale and retail and other circulation entities, with the added value of China's wholesale and retail industry reaching 13.8 trillion yuan in 2024, second only to the manufacturing industry, growing by 40% compared to the end of the "Thirteenth Five-Year Plan", accounting for over 1/10 of GDP, reaching a historical high, and employing 135 million people. In the first half of this year, the added value of the wholesale and retail industry increased by 5.9% year-on-year, and growth momentum remains strong. "Fall" refers to the reduction of social logistics costs, with the proportion of social logistics total costs to GDP decreasing from 14.7% five years ago to 14.1%, with the comprehensive logistics costs of key enterprises reduced by 10%. Commerce circulation has become an important pillar supporting China's economic and social development, providing strong support for the construction of a new development pattern.