Nine departments jointly issued 20 measures to accelerate innovation-driven development in the retail sector, supporting eligible new high-quality retail enterprises to list publicly

Shanghai Securities News reporter Chen Fang

On July 9, the Ministry of Commerce, together with the National Development and Reform Commission, the Ministry of Justice, the Ministry of Finance, the Ministry of Human Resources and Social Security, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, the Ministry of Culture and Tourism, and the State Administration for Market Regulation, issued the Opinions on Accelerating Innovative Development of the Retail Industry (hereinafter referred to as the “Opinions”). With 20 measures, the Opinions make a systematic plan to promote the development of the retail industry. It proposes that by 2030, a modern retail system will basically take shape with a rational layout, high-quality supply, diverse business formats, intelligent and convenient services, and orderly competition. The Opinions also make clear that they will support qualified new and high-quality retail enterprises in listing.

“The issuance of the Opinions is a further boost and new deployment for the retail industry’s development efforts—driving factor resources to cluster around physical retail businesses, tilting policy measures toward physical retail, and strengthening work resources toward physical retail, to further enhance support for physical retail.” Li Jialu, head of the Department of Circulation Development of the Ministry of Commerce, said on July 9 at a special press conference.

The Opinions clarify that they will promote the integrated development of retail with formats such as catering, culture and tourism, and sports, and build a new ecosystem of “retail+”. They encourage the development of integrated retail, fashion-oriented retail, exhibition-and-curation retail, themed retail, and community-based retail. They will also support opening flagship stores and holding first launches and first shows.

With regard to issues such as partial imbalance in commercial outlets, clustering or shortages of business formats, and “involution”-style competition, the Opinions state that relevant standards for commercial outlet planning will be formulated. They will link the construction of urban and rural commercial outlets with national land space planning, as well as special plans for urban renewal, etc. They will encourage relevant associations and institutions to explore establishing a commercial facility saturation assessment mechanism, to serve as a “barometer” for the market.

Li Jialu said this is the first time that an exploration of establishing a commercial facility saturation assessment mechanism has been proposed, to provide references for project approval and for social investment.

Regarding the issue of some stores being idle, the Opinions propose a “one store, one policy” approach to create new scenarios, promoting space reconfiguration, business format upgrading, and digital and intelligent transformation. They support commercial facilities and transport hubs, nearby scenic areas, and more, adopting aerial skywalks and underground passageways to connect, improving customer appeal.

For difficulties raised by some retail enterprises—such as increasing revenue without increasing profits and heavy burden pressures—the Opinions propose encouraging a shift from commodity operations to comprehensive operations and service experience, developing in-depth joint operations, direct sourcing and direct operation, both wholesale and retail operations, and manufacturing-oriented retail. They also encourage cooperation among small and medium-sized enterprises in alliances, voluntary franchising, and joint R&D and procurement. They support large retail enterprises to “go global” through means such as building their own channels, cooperation, and mergers and acquisitions, to expand market incremental growth.

In strengthening policy support, the Opinions specify measures including strengthening land-use保障, reducing the burden on enterprises, and providing financing support. The Opinions mention supporting qualified new and high-quality retail enterprises in listing. They support qualified retail operating entities to issue asset-backed securities and commercial real estate investment trust funds. They support financial institutions to introduce industry credit policies tailored to the characteristics of the retail industry.

A person in charge of the Department of Circulation Development of the Ministry of Commerce said that next, the Ministry of Commerce will work with relevant departments to strengthen overall coordination, guide localities to strengthen policy innovation and management innovation, promote industry format innovation and model innovation, promptly summarize and推广 good experiences and practices, and promote retail innovation and high-quality development.

“Our goal is to encourage and promote physical retail to actively adapt to development changes, dare to explore, keep burdens light, and pursue transformation and upgrades—forming a good environment where a hundred flowers bloom and a hundred boats contend, earn the recognition of consumers and the love of the people, and solidify the foundation for boosting offline consumption.” Li Jialu said.

During the “14th Five-Year Plan” period, China’s retail industry development achieved a series of results. China’s total retail sales of goods increased from 39.4 trillion yuan in 2021 to 44.3 trillion yuan in 2025, with a cumulative growth of 12.5%, and its share of total retail sales of consumer goods remained at around 90% for a long time. In the first five months of this year, the year-on-year growth rates of retail sales for supermarkets and convenience stores above the designated size were 3.6% and 6.8%, respectively; and retail sales of shopping centers above the designated size grew by more than 10% year-on-year.

Li Jialu said that, overall, the retail industry is moving away from the traditional 固化 operating model dominated by “channels deciding everything” and “shelf display,” and is shifting to a new retail model centered on consumers, integrating multiple business formats, empowered by digital technologies, and driven by the supply chain to connect and elevate the value chain.