Beijing has unveiled measures to bolster brics-and-mortar retailers facing heavy price competition from online platforms, reports Hong Kong's South China Morning Post.

The Ministry of Commerce, working with eight other agencies, issued guidelines to accelerate innovation in the retail sector. The plan aims to foster differentiated competition between online and offline operators and establish a more rational pricing system in the coming years.

The move follows a slowdown in retail sales growth in May, the weakest since December 2022, with continued softness in big-ticket purchases.

The guidelines, which extend through 2030, call for transforming physical stores into destinations offering shopping, immersive experiences and social entertainment. Officials said the strategy is designed to stimulate consumption and modernise the sector.