China's Ministry of Industry and Information Technology, along with several other government bodies, has released a new plan to enhance the adaptability of consumer goods supply and demand. The plan aims to promote platform consumption in an orderly manner, focusing on emerging business models such as live-streaming e-commerce, instant retail, curated retail, and circular e-commerce.
The initiative encourages platform companies to leverage artificial intelligence to analyze user needs and tailor product and service recommendations. It also supports the use of digital technologies like virtual reality, the metaverse, AI, and blockchain to create immersive, multi-scenario consumer experiences. Additionally, the plan emphasizes the responsibility of platform companies to ensure compliance, enhance operator qualification checks, and improve mechanisms for rapid resolution of consumer disputes.
China Unveils Plan to Boost Platform Consumption with AI and Blockchain
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