China issues new plan to boost consumption by creating a healthier market environment

China has published a new action plan for boosting consumption that focuses on eliminating fraud, shoddy goods and other issues that discourage consumers from spending, as it aims to shore up economic growth amid an intensifying trade war with the United States.

The 19-point plan, jointly issued by five government bodies, aims to create a healthier “consumption environment” that will boost confidence and encourage consumers to open their wallets.

The authorities pledged to tackle issues ranging from unclear pricing and false advertising to low-quality products and poor consumer protections, with a goal of addressing “key issues” by 2027.

“Optimising the consumption environment is an important measure to boost consumer confidence and stimulate economic vitality, which is of great significance in promoting high-quality economic development,” the State Administration of Market Regulation said in a statement.

Key measures in the latest plan include raising quality standards in industries such as automobiles, home appliances and food, while supporting the development of domestically made jewellery, leather goods and other consumer products.