Data from the National Bureau of Statistics shows that from January to July this year, the retail sales of physical goods online grew by 8.7%, outpacing the total retail sales of consumer goods by 5.2 percentage points. E-commerce has become a new engine for stimulating market vitality and potential, and driving consumption growth, with several highlights emerging.

Firstly, the driving effect of new types of consumption such as digital, green, and service consumption is gradually becoming apparent. In terms of online retail, from January to July, the sales of mirrorless cameras, smart home systems, and mobile phones increased by 22.5%, 20.9%, and 15.5% respectively, with a 20.2% growth in online service consumption on key platforms. Compared with consumption in traditional fields, consumption in the e-commerce field can better leverage the advantages of deep integration, efficient allocation, and smooth circulation of new types of consumption. By promoting the integrated development of online and offline, business formats and scenarios, more diverse forms, more convenient methods, and more green consumption concepts and models have been stimulated, better meeting consumers' personalized, diversified, and customized consumption needs. This promotes a positive interaction between the consumption and production ends, effectively driving the iteration and model innovation of e-commerce formats, thereby providing important support for cultivating new growth points of mid-to-high-end consumption and enhancing the foundational role of consumption in economic development.

Secondly, the "trade-in" policy for consumer goods continues to unleash market potential. Data from the Ministry of Commerce shows that in July, the sales volume of televisions, washing machines, and refrigerators traded in on major e-commerce platforms grew by as much as 92.9%, 82.8%, and 65.9% respectively. The "trade-in" policy for consumer goods is accelerating the implementation of more application scenarios in the e-commerce field, further stimulating consumption potential. During the sixth Double Product Online Shopping Festival, the national online retail sales increased by 12.1%. In addition, under the promotion of the "trade-in" policy, the hub role of e-commerce platforms has become more prominent.

Thirdly, international cooperation mechanisms such as "Silk Road e-commerce" have expanded new spaces for e-commerce. Under the framework of the "Belt and Road" initiative, "Silk Road e-commerce" has expanded new spaces for international economic and trade cooperation, bringing new opportunities for the development of e-commerce. Currently, China has established bilateral e-commerce cooperation mechanisms with 31 countries. The Shanghai "Silk Road e-commerce" cooperation pilot zone has made new progress in "jointly shaping rules, sharing markets, and building capabilities". The 26 "Silk Road e-commerce" partner country pavilions have showcased more than 15,000 types of products from various countries, and for the first time, the electronic bill of lading solution of Chinese companies has been adopted by international shipping companies. E-commerce companies are also continuously strengthening their connection with overseas markets, actively integrating into the global industrial chain and value chain, opening up new market spaces for the development of China's e-commerce.

Next, efforts should be made to amplify the consumption driving effect of e-commerce and promote the high-quality development of e-commerce from aspects such as accelerating the deep integration of the digital and real economies, shaping high-quality industries, and improving the regulatory system.

Accelerate the deep integration of the digital and real economies to enhance the ability to serve the development of the real economy. Fully leverage the leading role of e-commerce in the reconstruction of the industrial chain and value chain, encourage e-commerce companies to explore user needs, and promote the healthy development of new business formats such as social e-commerce, live e-commerce, content e-commerce, and fresh e-commerce. Establish a mechanism for the integrated promotion of online and offline, actively cultivate global brands. Support e-commerce platforms in creating more visually impactful content presentation forms and more consumer-friendly interactive interfaces to quickly capture and accurately identify consumer needs, driving the industrial chain and supply chain to achieve collaborative innovation and mutual promotion.

Encourage innovation in business models and formats to shape a high-quality e-commerce industry. Guide e-commerce companies to improve the levels of patentization, standardization, branding, and specialization. Support various companies in using new technologies such as 5G, artificial intelligence, virtual reality/augmented reality, and 3D printing to build diverse online consumption scenarios and explore new modes of human-computer interaction. Vigorously develop smart retail, support the digital transformation of traditional retail companies, and promote the application of digital technologies in physical stores such as self-service terminals, electronic price tags, intelligent shelves, flexible supply chains, and traceability systems.

Improve regulatory system rules and optimize the soft environment for e-commerce development. Improve market access rules, reasonably define the responsibilities and obligations of governments, platforms, merchants, consumers, hosts, MCN institutions, etc.; promote the standardization construction of new fields and formats in e-commerce. Promote the establishment of a credit system covering the whole society, strengthen the construction of e-commerce integrity system, and establish and improve mechanisms for punishing dishonesty and encouraging trustworthiness. Strengthen the protection of consumer rights, carry out consumer education and warnings in new consumption fields, and increase the intensity of administrative law enforcement and judicial protection.