China's new retail guidelines aim to enhance consumption and foster competitive retailers by 2030, according to China Daily.
China's new retail guidelines are expected to drive consumption growth and create globally competitive retailers by 2030, reports China Daily.
The Ministry of Commerce, the National Development and Reform Commission, and other agencies jointly issued the plan to modernize the retail system. Measures include improving planning, encouraging new formats, and accelerating high-quality development.
Li Jialu, director-general at the Ministry of Commerce, stated that the sector faces challenges such as inefficient layouts, mismatched supply and demand, rising costs, and imbalances between online and offline channels. The guideline aims to help retailers adapt through better supply-chain management, digital transformation, and new business models.
Zuo Xiaobo, deputy director-general at the ministry, mentioned that 50 pilot cities will receive CNY8.6 billion (US$1.27 billion) in funding to support innovation projects. Priority will be given to first-store launches and new consumption scenarios that integrate retail, tourism, culture, and entertainment.
Zhou Mi of the Chinese Academy of International Trade and Economic Cooperation noted that new formats reflect shifting demand and technological advances. Consumers are moving away from mass-market products toward more segmented preferences, requiring targeted strategies.
Data from the National Bureau of Statistics showed that consumer inflation remained mild in June, with the Consumer Price Index (CPI) rising one percent year-on-year and core CPI also up one percent. Economists stated that the trend points to resilience in the consumer market.
Wen Bin, chief economist at China Minsheng Bank, indicated that while headline inflation is low, core inflation has stayed above one percent, with services prices remaining steady. He expects the GDP deflator to rebound to around two percent in the second quarter, ending a 12-quarter run in negative territory.
