Ministry of Commerce and nine other departments: Support major retail operators to “go global” through self-built channels, cooperation, mergers and acquisitions, and other means

The Ministry of Commerce and nine other departments issued an opinion on accelerating innovation-driven development in the retail industry. It proposes that retail operating entities be encouraged to shift from selling goods to providing comprehensive operations across multiple business formats, strengthen consumers’ service experience, and change traditional business practices such as charging channel fees, among others. It calls for developing in-depth joint operations, self-sourcing and self-operation, retail-and-wholesale integration, and manufacturing-style retail. It also encourages innovation in omnichannel retail, instant retail, and models such as “online traffic acquisition + offline sales.” Retail SMEs are encouraged to form alliances for cooperation and engage in voluntary franchising, and to jointly develop and procure. It supports large retail operating entities to “go global” through building their own channels, cooperation, mergers and acquisitions. (People’s Finance)
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