China launched this Monday an action plan to boost consumption of smart home products and solutions, with the aim of revitalizing the economy by increasing domestic consumer spending. The plan was presented at a time when the country is seeking alternatives to stimulate economic growth.
The action plan is based on three fundamental pillars. The first involves strengthening the supply of technological products for the home. The second involves creating new usage scenarios for these products. The third focuses on adapting homes to the specific needs of different population groups.
This initiative comes within the framework of a broader strategy by the Chinese government to reduce dependence on exports and external investment as the main drivers of the economy, thus encouraging greater domestic consumption.
