China announces measures to modernize retail industry

The Chinese government issued a document on Monday that outlines measures to modernize the nation's retail industry over the next five years.

According to the document, the country seeks to initially form a modern retail system that features enriched supplies and high-quality services, and that is smart, convenient and green by 2029.

To modernize the industry, upgrade and transformation efforts targeting department stores, shopping centers, supermarkets, and community business hubs will be made, according to the document jointly issued by seven government departments including the Ministry of Commerce.