According to Wall Street Journal News (Wall Street CN), the Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission (NDRC), the Ministry of Commerce, the Ministry of Culture and Tourism, the People’s Bank of China (PBC), and the State Administration for Market Regulation jointly issued the 'Implementation Plan on Enhancing the Adaptability of Supply and Demand for Consumer Goods to Further Promote Consumption'. The plan proposes to develop platform consumption in an orderly manner and advance the development of new business formats such as live-streaming e-commerce, on-demand retail, curatorial retail, and circular e-commerce in an organized way. It encourages platform enterprises to legally and compliantly use artificial intelligence (AI) technology to tap into user needs and accurately match and promote products and services. The plan also supports platform enterprises in applying digital and intelligent technologies including virtual reality (VR), metaverse, AI, and blockchain to create multi-scenario and immersive consumption experiences. Additionally, it guides platform enterprises to carry out consumption promotion activities that strengthen brands and quality, urges platform enterprises to fulfill their primary responsibilities, enhances the review of operators’ qualifications and the verification of commodity information, and improves the rapid handling mechanism for consumer disputes.
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