ANNOUNCEMENT 26 May 2016

May 26th, 2016 - The Chinese State Council published a plan to increase government support in the consumer goods sector.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE

PRC State Council, May 26th, 2016. (国办发〔2016〕40号 国务院办公厅关于开展消费品工业“三品”专项行动营造良好市场环境的若干意见)
http://www.gov.cn/zhengce/content/2016-05/30/content_5078070.htm

Inception date: No inception date

Instrument unclear

In May 2016, the Chinese State Council released Guobanfa 2016/40, a plan to boost the domestically-produced consumer goods industry in China.

The plan focuses on increased funding for creatively designed products, in order to improve three elements of said goods: brand variety, quality and recognition.

To achieve this, the plan states that existing state funding channels will be utilised, but with the provision of 'stronger financial support' where necessary.

From a consumer standpoint, the plan also urges the 'adjustment' of consumer taxes to make Chinese products 'more competitive' than imported goods - a roundabout way of saying that the taxes on domestic goods will be less than on foreign ones.

Specific goods are not mentioned, however subsequent policies spawned by this one have targeted garments, automobiles and furniture as examples of sectors that can benefit from high quality, good design and recognisable branding.

AFFECTED PRODUCTS

 
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