China Releases 12th Five-Year Plan for Domestic Trade Development

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Sept. 12 – China’s State Council released the “Circular on Printing and Distributing the 12th Five-Year Plan for Domestic Trade Development (guobanfa [2012] No.47, hereinafter referred to as the ‘Plan’)” on September 1, aiming to promote the sound and rapid development of domestic trade. The Plan summarizes the current status of domestic trade development in China as well as sets out the key development objectives and main tasks for the 12th Five-Year Plan period.

During the 11th Five-Year Plan period,  significant development has been achieved in domestic trade, specifically:

  • The total retail sales of social consumer goods rose from RMB6.8 trillion in 2005 to RMB15.7 trillion in 2010
  • The total sales of means of production rose from RMB14.3 trillion in 2005 to RMB36.1 trillion in 2010
  • Added value from wholesale, retail, hotel and catering industries rose from RMB1.8 trillion in 2005 to RMB4.4 trillion in 2010, with an annual average actual growth rate of 14.9%
  • Tax revenue from domestic trade increased at an annual average growth rate of 24%, with 102.7 million employees hired in domestic trade in 2010

Development objectives by 2015

The development objective during the 12th Five-Year period is to double the overall scale indicators, concretely:

  • The total retail sales of social consumer goods should amount to approximately RMB32 trillion, with an average annual growth rate of 15%
  • The total sales of means of production shall reach around CNY76 trillion, with an average annual growth rate of 16%
  • Added value from the wholesale, retail, hotel and catering industries shall exceed RMB7 trillion, with an average annual actual growth rate of 11%
  • Employees engaged in domestic trade shall amount to 130 million, including about 100 million employed in urban areas, with an annual growth of more than 5 million employees.

Main tasks during the 12th Five-Year Plan period

As provided by the Circular, there are eight main tasks for the 12th Five-Year plan period, which are:

  • Coordinating the balanced development of domestic trade
  • Establishing and improving the modern commodity circulation system
  • Promoting significant development in the domestic trade service industry
  • Improving the overall competitiveness of circulation enterprises
  • Facilitating circulation modernization
  • Guaranteeing the stable operation of the domestic market
  • Creating an organized and orderly market environment
  • Deepening the reform and opening-up of domestic trade

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