With e-commerce platforms locked in fierce competition for China’s instant retail market, a prominent Chinese economist has called for government guidance that balances regulatory oversight with innovation and a push for new growth drivers.
Wang Yiming, a central bank adviser, said “quick commerce” – involving the rapid delivery of food and essential goods, often within 30 minutes – creates new opportunities for consumption, which could be vital for long-term growth.
He urged officials to guide the sector’s high-quality development through targeted policy measures.
“Instead, the goal is to raise competition to a higher level – moving away from a zero-sum mindset towards a win-win approach through innovation, quality upgrades and a better industrial ecosystem.”
