The Chinese Ministry of Commerce and nine other departments have issued guidance to promote innovation in the retail industry and the application of digital RMB

The Chinese Ministry of Commerce and nine other departments have issued guidance to promote innovation in the retail industry, including the application of digital RMB in the issuance and settlement of consumer vouchers. The guidance requires the use of digital RMB smart contracts to achieve efficient circulation and precise distribution of subsidy funds, support the full chain digitization of retail enterprises' procurement, inventory, logistics, and online and offline integration, encourage platforms and third-party technology suppliers to provide digital management systems and shared resources for small and medium-sized retailers, and promote AI+applications such as smart shopping assistants, low altitude delivery, and unmanned vending.