Retail Sector to Drive Domestic Demand Through Service-Oriented Transformation
China will prioritize high-quality retail development as a cornerstone of its economic strategy during the 15th Five-Year Plan period (2026-2030), Vice Commerce Minister Sheng Qiuping announced this week. The initiative aims to transform the sector into a sophisticated engine for domestic consumption through enhanced service quality and digital integration.
While retail sales grew 3.5% in 2024 under the current 14th Five-Year Plan, officials identified opportunities for improvement in supply chain efficiency and rural market development. "Businesses must win consumers through premium products and innovative experiences," Sheng stated, praising regional success stories like Pangdonglai's multi-format retail operations.
Strategic Priorities for 2026-2030
The roadmap emphasizes three key objectives:
1. Expanding premium retail networks in lower-tier cities 2. Accelerating online-offline integration through smart logistics 3. Cultivating new consumption models for emerging markets
Officials highlighted the need to balance physical store networks with e-commerce platforms while allowing market forces to guide resource allocation. This approach builds on recent achievements in stabilizing supply chains during global economic uncertainties.
