Ministry of Commerce: will further strengthen support for physical retail.

At a special press conference held by the Ministry of Commerce today, officials from the Ministry of Commerce stated that they will further strengthen support for physical retail and solidify the foundation of active offline consumption. The officials introduced that physical retail is the cornerstone of the retail industry, an important foundation for commodity circulation, and also an important channel for market prosperity and employment security. The latest "Opinions on Accelerating the Innovative Development of the Retail Industry" will further enhance support for physical retail. It will promote the innovation and improvement of the retail industry, integrate with the construction of modern commercial and trade circulation systems, pilot new formats, new models, and new scenes of consumption, as well as the construction of 15-minute convenience life circles, and leverage the guiding role of relevant policies to promote the transformation of "one store, one strategy." It will support financial institutions in issuing industry credit policies that are compatible with the characteristics of the retail industry, utilize policies for updating offline consumer commercial facilities and equipment, and provide interest subsidies for loans to service industry operating entities, support high-quality retail companies that meet the conditions to go public. It will clarify that under compliance and safety premises, commercial facility renovation projects can have mixed land use and mixed building functions, strengthening the guarantee of land for dual-use basic infrastructure in the retail industry.