13FYP for Domestic Trade Flows Issued

The 13th Five-Year Development Plan for Domestic Trade Flows was issued earlier this month. Ministry of Commerce (MOFCOM), Ministry of Finance (MOF), NDRC, MIIT, AQSIQ and SAIC all contributed to the Plan.

According to the Plan, modern trade schemes will become a strategic pillar for national industry by 2020. In order to achieve the goals set out in the plan, China will promote the transformation of brick and mortar businesses, improve trade flows and supply, improve the consumption structure model, and increases the amount of trade information.

Additionally, they will try to standardize trade by developing the infrastructure needed and coordinating across regions in both urban and rural areas. They will also encourage all future trading business to be conducted according to the law. There is a lot of opportunity for the ICT industry because of the expanding demand for new, upgraded technology.