Authorities in Jinhua, East China's Zhejiang province, recently issued "Several Opinions on Promoting the Quality and Expansion of the Commodity and Circulation Industries" in an effort to build a demonstration area for common prosperity.
The guideline covers four key areas including upgrading the commercial level, strengthening the main entities in the commodity and circulation industries, cultivating diversified consumer scenes, and improving the consumer environment.
According to the guideline, rewards will be given to both domestic and internationally renowned commercial enterprises and brand operators who are introduced, as well as to those awarded at various levels such as historical brands, smart business districts, and leading companies in the integration of domestic and international trade.
Rewards will also be provided to e-commerce platforms that achieve certain transaction volumes and are identified as national or provincial electronic commerce industry bases, and to companies that have obtained supply chain innovation and application pilot projects or commercial and trade pilot projects, or have established a certain scale of cold storage and cold chain facilities.
In recent years, total retail sales of consumer goods in the city have steadily increased. From 2018 to 2022, there was an average annual growth rate of 7.1 percent, which was 2.2 percentage points higher than the provincial average.
Over the past four years, a total of 2,319 new enterprises have been added to the registry. The number of existing enterprises has increased from 1,318 to 2,867. The Bayong Road Pedestrian Street in Wuzhou Ancient City was selected as a provincial high-quality pedestrian street in 2019. The newly opened large-scale shopping complexes such as Wantai Plaza and Wangu Plaza in the city continue to upgrade the consumer environment.
In terms of consumer quality, there have been 85 newly recognized Jinhua historical brands over the past four years, and two "historical brands" have been shortlisted for the third batch of recommended candidates for recognition as a "Chinese Historical Brand."
