BUSINESS China vows support for small stores

BUSINESS

China vows support for small stores

Xinhua

14:46, July 17, 2020

A tourist chooses products at a shop at Luoyi ancient town in Luoyang, Henan province, on July 7, 2020. (Photo: Xinhua)

BEIJING -- Chinese authorities have released a circular aimed at supporting small stores as part of efforts to increase employment, expand consumption, and improve people's livelihoods.

The circular, jointly issued by the Ministry of Commerce and six other government departments, detailed measures to develop 1,000 clusters of small stores nationwide by 2025.

Measures will be taken to promote the transformation and upgrade of small store clusters, said the circular, adding that such stores may extend business hours and digitalize marketing activities to offer residents multiple services.

E-commerce platforms, logistics firms, trading enterprises, and central kitchens are encouraged to cooperate with small stores to reduce their costs, according to the circular.

The circular also noted that preferential policies related to small stores, such as tax and fee cuts, should be fully implemented.

China had over 80 million small stores by the end of 2019, creating jobs for about 200 million people.

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