THE Chinese government has unveiled measures to expand and upgrade consumer goods consumption, aiming to bring total retail sales of consumer goods to around 60 trillion yuan (about $8.85 trillion) by 2030, according to an implementation guideline made public on Monday.
The guideline, jointly issued by seven government departments, including the Ministry of Commerce and the National Development and Reform Commission, calls for fostering 10-trillion-yuan markets in areas such as green, smart and health consumption by 2030.Retail sales of trillion-yuan product categories, including automobiles, home appliances, communications equipment, textiles and clothing, are also expected to continue growing, with these markets remaining among the world’s largest.The guideline outlines four major tasks to promote goods consumption, namely promoting the consumption of durable goods, improving the quality of everyday consumer goods, supporting consumption of specialty products and fostering demand for upgraded products.It further specifies measures that include expanding automobile consumption across the entire industrial chain, promoting smart home applications, supporting consumption of products for elderly people and children, and boosting consumption of green, smart and health products.
