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for the Consumer Goods Industry

The future plan: China is on the way to develop more innovative products



China’s Industry Ministry suggested a plan for CG companies that will help them produce more innovative products, like a robot vacuum cleaner and smart rice cooker. The guidelines presented by The Ministry of Industry and Information Technology (MIIT) are designed for the light industry, which includes organizations producing consumer goods items and tools. The category (light industry) encountered supply shortages for mid-to-high-end items in the past years and lacks global famous brands, which is why MIIT is now paying more attention to it. By 2025, it is anticipated that Chinese brands’ value will upgrade and the country will secure a prominent position in the global manufacturing value chain.

Read more from Reuters

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