China will foster a number of demonstration cities and leading enterprises for new consumption types by 2025, according to a guideline issued by the State Council.

  The guideline aims to accelerate the development of new consumption based on new forms of business under the new economic development pattern of "dual circulation," which takes the domestic market as the mainstay while letting internal and external markets boost each other.

  China will improve the institutional mechanisms and policy systems for promoting the development of new types of consumption after three to five years of efforts, said the guideline.

  The online retail sales of physical goods will account for a significant proportion of the total retail sales of consumer goods, and new business models such as "Internet plus services" will become popular, it said.

  The guideline rolled out policies in four areas: promoting the integration of online and offline consumption, enhancing infrastructure for new types of consumption, optimizing the environment for the growth of new types of consumption and increasing policy support.

  Source: CGTN