Unveiling a Bold Vision for 2027
On Thursday, the Ministry of Industry and Information Technology (MIIT) and five other departments revealed a sweeping action plan aimed at supercharging the Chinese mainland's consumer market. The goal? To cultivate three distinct trillion-yuan consumer sectors and ignite ten 100-billion-yuan hotspots by 2027.
Aligning Supply and Demand
At the heart of the plan is a better match between what people want and what factories produce. MIIT vice minister Xie Yuansheng highlighted that the Chinese mainland now offers 230 million types of consumer goods, from smart home devices to humanoid robots and drones. Impressively, over 96 percent of major daily-use products meet international standards.
Targeting High-Growth Engines
The action plan zeroes in on three high-potential areas: elderly care products, smart vehicles, and consumer electronics. Each is poised to ride a wave of innovation – from AI-integrated appliances to intelligent connected cars – fueling both urban and rural markets.
AI at the Forefront
With 515 million generative AI users nationwide, the ministry plans to weave AI into new product development and real-world applications. Imagine smart wearables that anticipate health needs or consumer electronics that adapt to your habits – this is the future on the drawing board.
Looking Ahead to 2030
Beyond 2027, the roadmap extends to 2030, aiming to steadily increase the share of consumption in economic growth. As domestic brands grow stronger – boosted by trends like guochao fashion and pet supplies – the Chinese mainland is redefining value, quality, and resilience in its consumer landscape.
For global entrepreneurs, tech enthusiasts, and curious travelers, this action plan signals a leap toward a more innovative and consumer-driven market. Keep an eye on these trillion-yuan sectors – they could reshape how the world shops, travels, and lives.
Reference(s):
China plans to cultivate three trillion-yuan consumer sectors by 2027
cgtn.com
