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CHINA will implement special measures to establish a more advanced consumer goods sector within two years by increasing product variety and quality and ensuring more domestic brands achieve a global reputation, according to a State Council meeting presided by Premier Li Keqiang yesterday.
The new crusade is also a major step in the country’s supply-side structural reform, encouraging the consumer goods sector to nurture innovative products with more variety which will better satisfy consumer demands.
The sector has enjoyed advantages in China in previous decades due to the low cost of labor, and has contributed greatly to China’s prosperity over the past 30 years in the transition from a planned economy. Yet these advantages have shown signs of decline as competition in the global market intensifies, and industries are now facing problems such as a lack of innovation and quality.
According to the new project, which will be carried out from 2016 to 2018, more varieties of higher-end consumer goods will be available to consumers. Enterprises will be encouraged to spend more on research and development and take steps to enhance product design.
The project also encourages major consumer goods producers to meet international standards. Such efforts will be carried out in nine types of consumer goods, including domestic appliances, watches, bicycles, goods for daily consumption, food as well as products in the culture and sports sectors.
Spending overseas has grown rapidly among Chinese consumers on rising demand for high-quality products and services.
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