China's New Plan to Enhance Consumer Goods Supply and Demand Compatibility

According to PANews, China's Ministry of Industry and Information Technology, along with five other departments, has issued an implementation plan aimed at enhancing the compatibility between supply and demand in consumer goods to further boost consumption. The plan outlines the orderly development of platform consumption, including live-streaming e-commerce, instant retail, curated retail, and circular e-commerce. The initiative encourages platform enterprises to lawfully and compliantly utilize artificial intelligence technology to analyze user needs and match products and services accordingly. It also supports the application of digital technologies such as virtual reality, the metaverse, artificial intelligence, and blockchain to create multi-scenario, immersive consumer experiences. Furthermore, the plan guides platform enterprises to conduct brand quality promotion activities to stimulate consumption. It emphasizes the need for platform enterprises to take primary responsibility, strengthen the review of operator qualifications, verify product information, and improve mechanisms for the rapid resolution of consumer disputes.