US Dollar Exchange Rates of
25th
Jul
2023
China Yuan 7.14
Report from China
Measures
to promote household consumption
A number of ministries (13) including the Ministry of Commerce recently
issued a notice on Measures to promote Household Consumption. Household
consumption covers many fields such as household appliances, furniture, home
textiles and home decoration etc. It is an important part of private
consumption and has a direct impact on the economy.
In order to release the potential of household consumption, consolidate the
momentum of consumption recovery and enhance the role of consumption in
economic development with the consent of the State Council the following was
decided:
Improving quality of supplies
To improve the green supply chain the government will support home
furnishing manufacturing enterprises to implement green manufacturing,
encourage conditional areas to introduce targeted policies and measures for
green manufacturing demonstration enterprises and promote enterprises to
increase research and development efforts of green home products. The
quality and brand building for green household products will be
strengthened.
The unified green product standards, certification and identification system
will be improved and the scope of green household product certification will
be expanded. The government will encourage and support residents in
purchasing green household appliances, green furniture and green building
materials etc. The government will support home furnishing stores to develop
green shopping malls, set up green product sales zones and vigorously
develop green home decoration sales.
To foster smart consumption through innovation the government will support
enterprises to use the ‘internet of things’, cloud computing and artificial
intelligence to accelerate research and development for smart home
appliances, smart security, smart lighting, smart sleep, smart health and
smart audio and video entertainment. This effort will play a role in big
data for consumer platforms to support enterprises to carry out
customisation, personalised design and flexible production of household
products. The inter-connection of smart home devices will be promoted, a
sound standard system will be established and the integration of single
product intelligence with whole house intelligence will be promoted. The
government will build and conduct trials on digital homes.
The level of elderly-oriented household products will be improved. The
promotion of elderly-oriented products will be formulated and published and
the development of design standards for elderly-oriented household products
will be accelerated.
The government will support enterprises to increase research and development
of elderly-oriented household products such as household appliances,
furniture and bath devices etc. The government will support the following
installation of video care systems and household health monitoring equipment
such as blood oxygen meters, blood pressure metres, blood glucose meters
along with home stores and e-commerce platforms to appropriate for senior
product sales area counters and will expand elderly-oriented home
renovation.
Innovative development of home furnishing enterprises
Chinese government will promote innovative development of home
furnishing enterprises which will be supported to accelerate the development
of digital, intelligent transformation and upgrading and online-offline
integration to create a number of home furnishing industry leaders so the
industrial and supply chain can develop. Enterprises will be encouraged to
build online home service platforms and promote the healthy and orderly
development of new commercial models such as "Internet + home improvement",
"Internet + second-hand home furnishing", household appliances and furniture
rental.
The development of the second-hand household sector will be encouraged. Home
stores will be supported to strengthen cooperation with upstream and
downstream enterprises, build a "everyone home" ecosystem and provide
consumers with one-stop, integrated, full-scene home consumption solutions.
Home stores and shopping centres will be supported to set up experiential
consumption capacity such as smart home experience halls and quality home
life halls and explore the integrated development of home retail,
entertainment, leisure and creative design etc.
All localities are encouraged to carry out renovation and upgrading of old
houses through various means such as government support and enterprise
promotion in conjunction with the renovation of old urban communities.
Enterprises are encouraged to carry out old house renovation design
competitions, display excellent cases of upgrading and renovation, create
old house renovation and partial renovation model rooms and introduce
affordable products and service packages to meet diversified consumer
demand.
To promote consumption home rejuvenation activities will be organised and
carried out to introduce targeted policies and measures, guide enterprises
to improve the quality and level of home consumption and supply, provide
more high-quality, personalised, customised home products, increase
incentives and support residents to replace or buy new green smart home
products and carry out old house decoration.
Local governments and relevant industry associations will be supported to
organise and carry out promotion activities such as having a home
consumption season, home textile consumption Festival and home improvement
Consumption Festival. These activities will be coordinated with the National
Consumption Promotion Month and the International Consumption Season.
The government will make good use of exhibition platforms such as the China
International Import Expo and the China International Consumer Goods Expo to
support the holding of professional home furnishing exhibitions in a
market-oriented manner, showcase cutting-edge technologies and products in
the home furnishing field and expand the supply of high-quality home
furnishing products.
Improving the consumption environment
Developing community services for the convenience of people's living
circle and services closely related to household consumption such as washing
and drying shops, maintenance points and renewable resource recycling points
will be promoted. Residential communities will be encouraged to use idle
houses to set up temporary storage places for household appliances and
furniture to facilitate residents to carry out decoration.
Domestic enterprises and home appliance service enterprises will be
encouraged to enter the community to expand home cleaning and home appliance
repair and maintenance.
The government will coordinate existing funding channels and strengthen
support for projects in the construction of waste material recycling. The
standardised setting for waste furniture and household item disposal points
in residential areas will be developed and online booking for collection and
transportation will be promoted. The recycling system for waste textiles
will be improved. Recycling enterprises and property enterprises will be
encouraged to establish a long-term cooperation mechanism, support
enterprises to recycle waste household appliances and furniture and provide
convenience for waste materials recycling vehicles into the community.
The government will promote rural household consumption through the creation
of a rural commercial system, guiding household enterprises, supporting
e-commerce platforms and failing rural markets, optimising rural circulation
networks and channels, increasing the supply of marketable household
products and improving the level of after-sales service.
The government also will improve the three-level logistics distribution
system in counties and villages and develop intensive distribution, carry
out activities to deliver green building materials to the countryside,
further expand the scope of pilot areas and provide appropriate subsidies or
loans for green building materials consumption in areas where conditions
permit.
Improving home improvement standards
Home improvement standards and norms will be improved and the "leader"
system of enterprise standards in household sector will be implemented. In
accordance with the law there will be a crackdown on counterfeiting, risky
cost cutting and price fraud in the household consumption. Action will be
taken to improve the credit evaluation system in the household sector,
promote typical cases of integrated management, encourage industry
associations to explore the implementation of a "blacklist" system in the
household sector and guide market players to operate with integrity.
Home improvement enterprises will be guided to strengthen the training of
employees, organise employees to actively participate in vocational skills
competitions and improve service quality.
The government will strengthen policy support. Financial institutions will
be encouraged to strengthen credit support for household consumption,
reasonably determine loan interest rates and repayment terms, optimise
approval processes, improve financial services and promote online processing
under the premise of law and compliance and risk control. Financial
institutions are encouraged to strengthen cooperation with home furnishing
manufacturers, home furnishing stores and home improvement enterprises to
provide financial support for business operators and upstream and downstream
enterprises. The issuance of infrastructure real estate investment trusts (REITs)
will be supported by qualified commercial outlets such as home stores. The
government will continue to support residents of old urban communities to
withdraw housing provident funds for the renovation of self-occupied housing
such as the installation of elevators and expand the scope of policy support
for the renovation of self-occupied houses.
See:
https://jp.reuters.com/article/china-economy-consumption-idUSKBN2YF0TK
Rise in business revenue for green building material enterprises
The revenue in China's green building materials sector continues to grow and
the government will introduce measures to promote green consumption. It has
been reported that revenue of green building materials enterprises exceeded
RMB100 billion in the first half of 2023 a year on year increase of more
than 20%. Sales via e-commerce platforms were nearly RMB2 billion, an
increase of 27% year on year.
At present, there are 4,305 certified national green building material
enterprises and a total of 7,284 green building material certificates were
issued in the first half of 2023, a year on year increase of 3.3 times and
3.8 times respectively.
The government will take action to
"increase the varieties, improve the quality and create brands in the green
building materials industry and drive the industrial chain of green building
materials to the countryside through industry and project support. Efforts
will be made to create industrial clusters and a number of high-quality
green products will be created in the future.
Offline stores and e-commerce
platforms will be promoted to set up green building materials zones, build
digital empowerment and in-depth experience scenes to attract young people
and meet everyone's individual needs.
Enterprises invited to invest in added value manufacturing in Russia
It has been reported that Russia welcomes Chinese enterprises to
invest in wood processing and hopes that the two sides will continuously
upgrade the level of cooperation to fully optimize the cooperation
potential. Russia is willing to enhance the logistics capacity for forest
products, improve the business environment and take practical measures to
facilitate cooperation between enterprises.
The Ministry of Commerce in China
and the Ministry of Industry and Trade in Russia signed a Memorandum of
Understanding on Deepening Investment Cooperation in the Field of Forest
Resources Development and Utilisation. The development and utilisation of
forest resources is an important field of bilateral economic and trade
cooperation with good opportunities for development.
China is willing to work with
Russia to further strengthen communication on trade and investment policies
in the forest industry, support inter-local cooperation, improve the
business environment, deepen cooperation in related industrial chains and
supply chains, accelerate green and low-carbon transformation, actively
respond to climate change and promote sound and steady development of
bilateral forest industry cooperation.The Russia-China cooperation in the
development and utilisation of forest resources has made progress in recent
years making important contributions to bilateral economic and trade
cooperation.
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