China announces measures to modernize retail industry

The Chinese government issued a document on Monday outlining key tasks in five aspects to promote the high-quality development of the nation's retail industry over the next five years.

According to the implementation plan on improving retail innovation, which was jointly issued by seven government departments including the Ministry of Commerce, the country seeks to initially form a smart, convenient and green modern retail system that features abundant supply, balanced layout, diversified channels and high-quality services by 2029.

In terms of improving consumption scenarios, tailored efforts will be made to renovate department stores and shopping centers, each done in their special ways; innovations will be promoted to create diverse experience scenarios such as performance, exhibition, culture and animation; and the synergy between businesses and science and technology, nature, art, sports and parks will be encouraged to form characteristic spaces through clever renovation and minor upgrades, according to the document.

In terms of ensuring high-quality supplies, the trade-in of traditional consumption goods such as cars, home appliances, and furniture will be encouraged, trendy domestic brands will be promoted, supports will be granted to the establishment of special areas and counters for elderly services and maternal and child products, and international expositions and other channels will be used to attract global brands and help Chinese businesses purchase directly from overseas high-quality suppliers, the document proposed.

In terms of promoting the empowerment of digital technologies, the plan encourages the application of digital technologies to optimize standard procedures, empower such links as the layout of stores and logistics and delivery, promote such models as smart stores and self-service vending, to make consumption more convenient, said the document.

In terms of promoting diverse innovation, efforts will be made to deepen joint operation, self-sourced operation, and the transition from selling goods to selling services, solutions and lifestyles, the document said, adding the development of new business forms such as boutiques, multi-brands stores, pop-up stores, and brand discount stores will be encouraged.

In terms of improving supply chains, the Chinese government supports to use pallets or turnover boxes as logistics units, handover units, and data units in the supply chain, and promotes a recycling sharing model without reloading of goods from pallets to pallets or from turnover boxes to such boxes to improve efficiency, according to the document.

"More business model innovations and higher efficiency can bring people greater sense of fulfillment, who will be more willing to spend, driving the circulation of national economy. A more balanced supply and demand circle can provide a strong support for economic growth," said Zou Yunhan, deputy director of the Macroeconomic Research Office of the State Information Center under the National Development and Reform Commission.

China announces measures to modernize retail industry

China announces measures to modernize retail industry

Researchers from the University of Science and Technology of China have achieved a major breakthrough in optical clock technology, developing a strontium optical lattice clock with stability and uncertainty both surpassing the 10⁻¹⁹ level, currently the most precise in the world.

The clock would lose or gain less than one second over roughly 30 billion years, according to the research team.

The findings were published in the international metrology journal Metrologia on Thursday.

Optical clocks are considered the most precise timekeeping devices currently available. They measure time by using the frequency of light emitted when electrons transition between energy levels in atoms. They can directly support the redefinition of the second in the International System of Units.

"This breakthrough enables China to rank among the top in the world in the development of optical clocks. It also provides a feasible technical path for the development of transportable optical clocks and satellite-borne optical clocks, and lays a solid and reliable foundation for using optical clock technology in areas such as testing fundamental laws of physics, supporting next-generation satellite navigation systems, and establishing a globally unified ultra-high-precision time reference," said Dai Hanning, professor of the university.

Beyond time-keeping, optical clocks can provide highly accurate time references for modern technologies such as satellite navigation, telecommunications and precision measurements. They also offer new experimental platforms for testing fundamental physics, including general relativity, as well as for the detection of gravitational waves and dark matter.

Achieving both stability and uncertainty at the 10⁻¹⁹ level opens the door to a range of frontier applications. These include millimeter-level measurements of gravitational potential and altitude, which could help monitor crustal deformation, groundwater changes and volcanic activity, as well as improve geoid mapping for disaster prevention and resource exploration.

Chinese researchers develop world's most precise optical clock