Hangzhou launches five-year new retail plan
Shoppers check in a pilot unmanned store in Hangzhou. [Photo/zj.zjol.com.cn]
Hangzhou released a new five-year plan to spur the growth of new retail in the city on Jan 5.
According to the plan which starts from 2019 and runs until 2023, Hangzhou will double down on efforts to promote trade innovation by making use of advanced technologies like big data, cloud computing, and artificial intelligence.
A number of unmanned convenient stores and counters will be set up to improve residents' shopping experience.
The plan states that 80 percent of shopping malls and large supermarkets in Hangzhou will be required to build an online trading platform and provide delivery services.
Smart convenient stores covering more than 200 square meters will receive prioritized support from the local government, as will community stores.
The plan also prioritizes promoting new retail to develop in the countryside.
According to the plan, up to 1 million yuan ($144,078) in subsidies are available for enterprises to update themselves and meet new retail standards.
The plan also encourages e-commerce platforms to open offline stores. Those meeting the requirement can receive up to 600,000 yuan, depending on their size.
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