The Chinese Government Will Benefit From The Formulation Of The Five Year Plan For The Development Of E-Commerce And Textile And Garment Industry.

The Chinese government has worked out a five year plan to fully develop e-commerce and domestic fashion brands, and the development of e-commerce will be more rapid. This will further benefit the expansion of the logistics industry, and freight companies will also benefit from the strong growth of e-commerce, and will also have an impact on the textile and clothing industry.

According to the news from Shanghai, the Chinese government has reformulated a five year plan, which will be announced in March next year.

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It is reported that the five year plan is similar to the five year plan from 2011 to 2015. It will focus on network enterprises and domestic e-commerce companies, especially the innovation ability of the company's enterprises.

According to a report by the China Internet Information Center (CNNIC) last week, China became the world's largest online retail market over the United States in 2014, with an e-commerce revenue of $439 billion, equivalent to 7% of the domestic GDP value.

Rajiv Biswas, Asia Pacific chief economist at IHS global perspective, said: "according to recent measurements, we predict that China's retail sales will grow by about 8% between 2016 and 2020.

The development of e-commerce will be more rapid, which will further benefit.

The expansion of freight companies will also benefit from the strong growth of e-commerce. "

Biswas believes that the plan for e-commerce will also have an impact on the textiles and clothing industry, because the government says it wants local brands to go global.

Rajiv Biswas said: "China's thirteenth five year plan will focus on the development of higher value-added space.

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In addition, the Chinese government has announced that it will encourage the internationalization of Chinese brands, which means that in the next 10 years, TNCs will face greater competition both in the Chinese market and in the international market.

The government also encourages the development of creative industries and may give them priority, because the government aims to build China into a leading design center.