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China Outlines Measures for Sustainable Domestic Consumer Market Growth

China has recently circulated its Implementation Plan for Further Optimising Supply, Promoting Steady Consumption Growth and Promoting the Formation of a Strong Domestic Market (2019).

Jointly-issued by 10 ministries – including the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Civil Affairs and the Ministry of Finance – and designed to bolster the growth of the mainland consumer market, the Plan outlines six strategic priorities:

  • Promoting the Development of a Sustainable Automotive Market
    This will include the orderly obsolescence and replacement of older, less environmentally-friendly automobiles and sustained efforts to optimise subsidies for new-energy vehicles
  • Expanding Urban Consumer Choice While Better Satisfying the Needs Arising from Urbanisation and an Increasingly Elderly Society
    In line with this, the provision of improved childcare and other supportive policies will be prioritised as a means of facilitating enhanced levels of parenthood, while greater emphasis will be placed on the accelerated construction of elderly-care facilities
  • Promoting Improvements to Rural Consumption as well as the Joint Development of Urban / Rural Consumption
    This will include maximising the potential of e-commerce and tourism spend within rural areas
  • Nurturing a Consumer Product Upgrade Environment
    Here priority will be given to incentivising consumers to upgrade their existing home appliances to smarter, more environmentally-friendly equivalents
  • Optimising the Supply of Products and Services in Order to Meet the Raised Quality Expectations of Consumers
    Particular priority here will be given to the promotion and upgrade of information consumption via the accelerated introduction of commercial 5G services and the wider availability of 4K Ultra-High-Definition Video connectivity

For further details (in Chinese), please access the following link:

Circular on the Issuance of an Implementation Plan for Further Optimising Supply, Promoting Steady Consumption Growth and Promoting the Formation of a Strong Domestic Market (2019) (Fa Gai Zong He No. 181 [2019])

Content provided by Picture: HKTDC Research
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