CHINA'S retail sales may grow 15 percent annually through 2015 and top 32 trillion yuan (US$5 trillion) in 2015, the Ministry of Commerce said yesterday.

The ministry said in its guideline for the country's 12th Five-Year Plan that it will accelerate the construction of infrastructure for commerce, and promote the use of e-commerce, franchising, online business and online shopping as well as modern logistics to boost the revenue of goods trading substantially.

It expects the revenue of e-commerce to expand at 30 percent annually, while the government will endeavor to improve logistics to facilitate e-business.

"The efficiency of commerce will be raised substantially, while the costs will be reduced," the ministry said.

The ministry will also encourage the development of third-party logistics companies and urge small- and medium-sized companies to merge their supply networks with large firms.

In the first 11 months of last year, China's retail sales expanded 17 percent on an annual basis to 16.3 trillion yuan.

 

Source:shanghaidaily.com