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China issues plan to encourage new types of consumption
CGTN
The first China Cross-border E-commerce Trade Fair, Fuzhou, Fujian Province. /CFP

The first China Cross-border E-commerce Trade Fair, Fuzhou, Fujian Province. /CFP

China issued a plan Thursday to further encourage cross-border renminbi (RMB) settlements as well as new forms of foreign trade, such as e-commerce.

The plan, issued by the National Development and Reform Commission (NDRC) and 27 other government departments, covers supportive measures for new types of consumption, including expanding financing channels and carrying out infrastructure projects.

Commercial banks and non-bank payment institutions are being encouraged to optimize mobile payments and reduce payment service costs for small and medium-sized merchants. 

The plan encourages the pilot program of digital RMB and is poised to select a batch of cities as trial areas with active new consumption models to improve financial operation efficiency and reduce financial transaction costs.

Efforts will be made to encourage new business patterns in retail sales, says the plan which calls for the development of contactless shopping, digitalized convenience-store chains and the live-streaming economy.  

The plan urges the development of the "internet plus medical health" sector. Rules will be established to regulate online health services and online hospitals.  

Digital cultural industries and tourism shall be further promoted, while online education shall be developed in an orderly manner, according to the plan. 

The NDRC urged relevant parties to boost consumption through fostering a complete domestic demand system, forming a strong domestic market and building a new development pattern.

The plan also demands new policies to secure the basic level of employee rights and benefits in areas such as wages, working hours, workplace safety and social insurance.  

Employment and social-insurance services should be provided online for employees in flexible jobs, according to the plan. 

(With input from Xinhua)

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