Beijing identifies products for the elderly, fitness equipment and pet food, among others, as potential sources of consumption growth.

China has launched a 19-point plan to better align the supply of consumer goods with demand, as Beijing steps up its efforts to rebalance its economy towards a consumption-driven growth model. A document outlining the plan issued by the Ministry of Industry and Information Technology and five other departments on Wednesday laid out goals that included the cultivation of three “trillion-yuan-level consumption sectors” and 10 “hundred-billion-yuan-level consumption hotspots” by 2027. The…

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