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CN MOC and 6 Other Departments Issue Implementation Opinions on Expanding and Upgrading Goods Consumption; Total Retail Sales of Social Consumer Goods Expected at RMB60T by 2030
2026-09-01 09:58:46 China's Ministry of Commerce, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Agriculture and Rural Affairs, the Ministry of Culture and Tourism, and the State Administration for Market Regulation jointly issued the "Implementation Opinions on Promoting the Expansion and Upgrade of Goods Consumption", setting out a clear blueprint for promoting goods consumption during the 15th Five-Year Plan period. The opinions propounded that total retail sales of social consumer goods are expected to reach RMB60 trillion by 2030, while cultivating RMB10 trillion-level markets for green consumption, smart consumption and health consumption. Retail sales of RMB1 trillion-level categories such as automobiles, home appliances, communication equipment and textiles and apparel are also required to maintain continuous growth to ensure the market scale remains globally leading. In fostering bulk durable goods consumption, the opinions require deeper advancement of pilot reforms in automobile circulation and consumption, urging relevant regions to optimize automobile purchase restriction measures and expand automobile consumption across the entire industry chain. At the same time, the automobile aftermarket will be cultivated and strengthened, supporting new business models such as vehicle modification, maintenance services, motorsports and RV camping. For daily consumer goods consumption, the plan will fortify the supply of high-quality green agricultural products, encourage the application of digital food labels, and cultivate world-class tea beverage brands while expanding county-level consumer markets. In the textiles and apparel sector, integration with traditional Chinese culture will be promoted, intangible cultural heritage will be protected, and debut platforms such as fashion weeks will be developed. Specialty goods consumption will focus on promoting age-friendly products such as exoskeleton robots, electric wheelchairs and smart mattresses for household use, while exploring the establishment of a certification system for silver economy products. For infant and child products, the policy encourages research and development of green, smart and safe products, while establishing recycling and second-hand trading channels for children's toys and sports equipment. In fostering and strengthening upgraded goods consumption, the opinions require active promotion of low-carbon products such as new energy vehicles, energy-saving home appliances and green building materials, while improving green product certification and labeling systems. In the smart consumption sector, applications of AI smartphones, computers, wearable devices, smart robots and smart home products will be accelerated, alongside the construction of "AI + Consumption" clusters and experience centers. ~ AASTOCKS Financial News Website: www.aastocks.com | |