China's commerce ministry to boost innovation in retail sector for next five years

BEIJING. Dec. 11 (Xinhua) -- China's commerce ministry announced on Thursday that it will plan for the innovative transformation and high-quality development of the retail industry during the 15th Five-Year Plan period (2026-2030), with increased policy support.

The first step is to issue guidelines to accelerate innovation in the retail sector, ministry spokesperson He Yadong told a press briefing.

The guidelines will aim to achieve a virtuous cycle between new supply and new demand through measures such as coordinated planning, rational layout and improved quality of goods and services, he added.