China's State Council Information Office highlighted significant strides in high-quality commerce development during a press conference reviewing achievements under the 14th Five-Year Plan (2021-2025). Officials emphasized structural reforms, digital transformation, and enhanced domestic consumption as key drivers of economic resilience.
The plan's focus on supply chain modernization has strengthened cross-border e-commerce, with trade volume growing 11% annually since 2021. New free trade zones in Hainan and Guangdong provinces have attracted $28 billion in overseas investments, including notable participation from businesses in Hong Kong and the Taiwan region.
Domestic consumption now accounts for 65% of economic growth, supported by upgraded logistics networks connecting rural and urban markets. "Our dual circulation strategy ensures both domestic vitality and global competitiveness," stated a commerce ministry representative, referencing China's approach to balancing internal and external markets.
The report also noted progress in green commerce initiatives, with 40% of major retail outlets now using renewable energy systems. Cross-strait economic cooperation saw particular emphasis, with Taiwan-based enterprises increasing mainland investments by 18% year-on-year in 2023.
