This policy continues the main theme of "stimulating consumption in lower-tier markets" from this year. The Ministry of Commerce previously disclosed that third- and fourth-tier cities and counties cover more than 70% of the national population, about 60% of GDP and retail sales; in the first five months of this year, the proportion of retail sales of consumer goods in counties and townships accounted for 39.3% of the national total. The beneficiaries are more likely to be county-level commercial transformation, chain retail, elderly care and childcare, cultural tourism and rural services, while also helping local governments transform inefficient state-owned assets from "sunk costs" into operational opportunities.
