Despite China's slowing economic growth, the retail industry in the world's second-largest economy will maintain sustainable growth in the medium and long term, commerce officials said on Thursday.
Meanwhile, the industry is undergoing a transformation and the government will make more efforts to enhance its quality and efficiency and to optimize its structure.
"Following the restructuring process of the economic growth model, the improvement of the consumption structure, the advancing urbanization, and especially the development of e-commerce, China's retail industry in the remainder of the 12th Five-Year Plan (2011-15) will keep steady growth," Wang Desheng, deputy director of the department of circulation industry development at the Ministry of Commerce, told a news conference on Thursday.
Source: Xinhua
Source: Xinhua
