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Internal trade plan is in the works

By Gao Yuan (chinadaily.com.cn)
Updated: 2011-03-11 13:51

China is likely to release an internal trade development plan in late April, the Shanghai Securities News reported Friday, citing Jiang Zengwei, vice-minister of the Ministry of Commerce.

The goal of the plan is to expand the country's domestic trade scale and to further adjust the economic structure. By the end of the 12th Five-Year Plan (2011-2015) period, China's total volume for retail sales of consumer goods is projected to double the 2010 figure, and the actual annual growth rate is expected to reach 12 percent, sources told the newspaper.

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It will be the country's first internal trade development blueprint since 1949, said Chen Deming, minister of the Ministry of Commerce.

Jiang said that the plan will focus on five factors, including how to expand domestic consumer spending, how to support the development of circulation enterprises and how to improve China's market environment. The plan will also include details concerning how to grow domestic demand, distribution modernization, inter-industry takeovers and the development of electronic commerce, the report said.

The soon-to-be-released plan will address several fields such as wholesale, retail, catering and lodging, the report said.

Meanwhile, commercial banks will be encouraged to provide stronger financial support to trade-service enterprises, and a payment platform better suited for modern circulation and distribution systems will also be set up, the newspaper added.