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China rolls out measures to promote sci-tech driven commerce

China

China

China

China rolls out measures to promote sci-tech driven commerce

2026-10-19 16:58 Last Updated At:19:48

China has unveiled a new guideline to boost commerce by leveraging science and technology to upgrade consumer goods, expand services consumption, improve the efficiency of commercial circulation and drive innovation in integrated consumption scenarios.

The guideline, jointly issued by the Ministry of Commerce and eight other government agencies and published on Monday, calls for wider use of emerging technologies such as artificial intelligence (AI), big data, the Internet of Things, cloud computing, blockchain, digital twins and embodied intelligence across the commercial sector.

The guideline calls for deeper integration of AI into manufacturing, covering product research and development, design, production and marketing. It also encourages the use of a wider range of smart products, including smartphones, computers, smart home devices, wearable technology and robots.

The guideline also supports the research, development and application of smart products based on secure and reliable open-source operating systems.

It also seeks to build a stronger portfolio of Chinese consumer brands by supporting products that stand out for independent innovation and premium quality.

Sci-tech is also expected to play a greater role in agriculture – the guideline encourages the development of technology-driven agriculture to improve the quality and efficiency of specialty agricultural products.

For China's time-honored brands, the focus is on preserving their heritage while embracing innovation.

China rolls out measures to promote sci-tech driven commerce

China rolls out measures to promote sci-tech driven commerce

Pan Gongsheng, governor of the People's Bank of China, China's central bank, said Monday that the central bank will join with other financial authorities to introduce a number of policy measures.

These include establishing a liquidity support facility to address large-scale redemptions by non-bank institutions, expanding the range of institutions eligible for the Standing Lending Facility, and promoting connectivity between the interbank and exchange bond markets.

Other policy measures to be introduced include pilot measures to facilitate foreign financial institutions' RMB purchase and sale business in the onshore foreign exchange market, and issuing guidelines regarding financial support for building international science and technology innovation centers in Beijing (Beijing-Tianjin-Hebei region), Shanghai (the Yangtze River Delta), and the Guangdong-Hong Kong-Macao Greater Bay Area, according to Pan.

Pan made the remarks while speaking at the opening ceremony of the Annual Conference of Financial Street Forum 2026 taking place from Oct. 19 to 22 in Beijing.

With a theme of "Building an Open Collaborative and Inclusive Ecosystem for Global Financial Development," this year's conference is expected to attract more than 400 prominent guests from over 40 countries and regions. The guests will participate in various activities, including the main forum, parallel forums, thematic conferences and side events.

China's central bank to introduce a number of policy measures

China's central bank to introduce a number of policy measures

China's central bank to introduce a number of policy measures

China's central bank to introduce a number of policy measures

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