Latest News

China urges its consumer goods firms to make more ‘innovative’ products

© Reuters. FILE PHOTO: A woman looks at products as she shops at a local electronic store in downtown Shanghai, October 8, 2012. REUTERS/Carlos Barria

BEIJING (Reuters) – China’s industry ministry on Monday proposed guidelines that it said it hoped could encourage its consumer goods enterprises to be more innovative with their products, giving examples such as smart rice cookers and robot vacuum cleaners.

The Ministry of Industry and Information Technology (MIIT), said the guidelines were aimed at the country’s “light industry”, defined as enterprises that make consumer goods and tools, said the sector faced as an insufficient supply of mid-to-high end products and a lack of globally well-known brands.

Examples of products it is encouraging the industry to produce include computer enabled rice cookers, shoes with location functions aimed at children and the elderly and liquor with a lower alcohol content for younger consumers.

It also said that by 2025 it hoped to see an improvement in the prestige of China’s brands and its position in the world’s manufacturing value chain.

It gave specific suggestions for each product category. “Diversified, trendy, individualised and low-alcohol liquor products should be developed aiming at younger consumers and foreign consumers,” it said.

The document is open to public feedback until Jan. 20, it added.

China urges its consumer goods firms to make more ‘innovative’ products

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

UBS’s Weber warns signs show global inflation to stay high

Previous article

EU banking profitability above pre-COVID levels, says watchdog

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News