TechFlow, Nov 26 — According to Wall Street Insights, the Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Commerce, the Ministry of Culture and Tourism, the People's Bank of China, and the State Administration for Market Regulation jointly issued the "Implementation Plan on Enhancing the Compatibility of Supply and Demand for Consumer Goods to Further Promote Consumption." The plan proposes orderly development of platform-based consumption. It calls for the orderly growth of new business models such as live-streaming e-commerce, instant retail, curated retail, and circular e-commerce. Platforms are encouraged to legally and compliantly use artificial intelligence technologies to analyze user demands and deliver personalized product and service recommendations. Support will be provided for platform enterprises to apply digital and intelligent technologies—including virtual reality, metaverse, artificial intelligence, and blockchain—to create multi-scenario, immersive consumer experiences. Platforms are urged to organize brand- and quality-focused promotional activities. Platform enterprises must assume primary responsibility, strengthen vendor qualification reviews and product information verification, and improve mechanisms for rapid resolution of consumer disputes.
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