China's retail sales are expected to reach 50 trillion yuan (7.72 trillion U.S. dollars) by 2025, an expected average annual growth of 5 percent for the 14th Five-Year Plan period (2021-2025), the Ministry of Commerce said, The Xinhua News Agency reported.
China has vowed to build a strong domestic market with new steps to promote a higher level of opening-up during the 2021-2025 period, according to a business development plan issued by the ministry.
China will work to play a better role in global economic governance and enhance its capacity to prevent and defuse risks, according to the plan.
In addition to 2021-2025 development targets, the plan also provided an outlook for higher quality commerce growth in 2035.
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