MKsports Northwest China's Shaanxi Province, on November 30, 2024. Photo: VCG " src="https://www.globaltimes.cn/Portals/0/attachment/2024/2024-11-04/06b7eec1-5eda-454a-9986-85465790e389.jpeg" />

Workers sort parcels at an express delivery station in Weinan, Northwest China's Shaanxi Province, on November 30, 2024. Photo: VCG

China's Ministry of Commerce (MOFCOM) issued an action plan together with a few other agencies aimed at setting up a modern commercial distribution system to assist the high-quality development of the country's wholesale and retail sector.

The plan focuses on building an efficient, smooth and modern commercial distribution system by 2027, integrating the domestic and international markets and urban and rural markets, according to a circular on the MOFCOM website.

Efforts will be made to improve the urban and rural commercial distribution network, with the cold-chain transportation rate for fruits to reach 25 percent by 2027, and that for meat products to reach 45 percent, the plan said. Meanwhile, more technological innovations will be introduced to help transform the commercial distribution network.

The authorities also vowed to ramp up the integrated development of internal and foreign trade, by setting up nine pilot areas and nurturing a batch of world-class enterprises in the logistics sector, according to the plan.

"The action plan will help efficiency and reduce logistics cost, strengthen the international competitiveness of China's foreign trade companies, contributing to the building of a dual circulation system," He Hui, chief economist of China Federation of Logistics and Purchasing, told the Global Times on Tuesday.

"To put it in perspective, the wholesale and retail sector is closely related with the growth of domestic consumption in the country. The digital and intelligent development of the wholesale and retail sector will accelerate consumption upgrade too," He said.

In 2024, relevant Chinese authorities have intensified efforts to boost domestic demand, through launching a new round of industrial equipment upgrade, and trade-in of big-ticket consumer items in March.

Driven by robust sales of electric appliances, furniture and automobiles, sales of consumer goods went up 4.8 percent in October year-on-year, compared to the 3.2 percent increase in September.

"Latest economic indicators for November have shown that China's economic recovery continues to gain momentum, as many pro-growth stimulus policies are implemented," said Wen Bin, chief economist at China Minsheng Bank. Wen predicted that China's retail sales growth rate may reach 5 percent in 2025.