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Coined in 2016 by Alibaba founder Jack Ma, the term New Retail refers to the integration, or interlinking, of online and offline shopping using modern technologies, data and customer engagement techniques. New Retail, Ma said, is making the distinction between physical and virtual commerce obsolete by combining the best in physical and online retail.
Comparing the two visits, Xi said Hainan has experienced dramatic change. "I felt gratified seeing the new changes in Hainan," he said.
Companies that have successfully completed the upgrade will get stronger policy support on taxes, finance, and environmental protection.
Compared to the UK in terms of the environment for startups, regulations in China are increasingly meeting the needs of expat entrepreneurs, becoming more flexible while gaining maturity.
Company executives of Pinduoduo celebrate as the company gets listed on the Nasdaq on July 26.[Provided to China Daily]
来源：资阳报