Chinese authorities have detailed new measures to boost e-commerce in rural areas, pledging diversified financial support to tap consumption potential in the underdeveloped market.
China will accelerate the building of a more efficient circulation system for agricultural products and a modern market system, according to a joint work plan released by government agencies including the Ministry of Finance and the Ministry of Commerce.
The plan seeks to foster more demonstration counties that feature upgraded e-commerce, low logistics costs and smooth flows of industrial goods and farm produce.
Local authorities will be encouraged to adopt a string of financial support policies including direct and indirect subsidies to boost consumption, the plan said.
China will also fast-track allocations of central fiscal funds and enhance capital efficiency to enable social capital to join the effort, according to the plan.
As the novel coronavirus epidemic dented consumption, China has been encouraging innovative ways to tap market potential, especially in the countryside.
County chiefs and city mayors have promoted local products via livestreaming, according to data from the Ministry of Commerce.
In Q1, online sales of farm produce reached 93.68 billion yuan (about 13.16 billion U.S. dollars), up 31 percent year on year, according to the ministry.