China has unveiled an ambitious plan to cultivate three trillion-yuan ($141.25 billion) consumer sectors and 10 distinct 100-billion-yuan consumption hotspots by 2027, according to a joint action plan released by the Ministry of Industry and Information Technology (MIIT) and five other departments this week. The initiative aims to strengthen the world's second-largest consumer market while aligning supply with evolving demand.
High-Quality Supply in Focus
MIIT Vice Minister Xie Yuansheng stated that China's consumer goods sector has entered a "new stage of higher quality and better value," with over 230 million product types now available. Key growth areas include smart home devices, wearables, humanoid robots, and drones, with 96% of major products meeting international standards.
Strategic Growth Areas
The plan prioritizes elderly care products, intelligent connected vehicles, and consumer electronics, alongside emerging segments like outdoor gear, pet supplies, and "guochao" (national trend) fashion. With 515 million generative AI users nationwide, MIIT will accelerate AI integration into consumer products through new applications and R&D initiatives.
Economic Transformation Ahead
By 2030, authorities aim to steadily increase consumption's contribution to economic growth. This push comes as domestic brands gain global competitiveness, supported by rapid innovation in smart vehicles and cross-sector technological convergence.
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China plans to cultivate three trillion-yuan consumer sectors by 2027
cgtn.com
