China has announced guidelines to build three trillion-yuan consumer markets by 2027, aiming to strengthen domestic demand as growth slows, reported Caixin. The plan, issued by six government agencies including the Ministry of Industry and Information Technology and the National Development and Reform Commission, targets three consumption sectors worth CNY1 trillion (US$141 billion) each and 10 hotspots worth RMB100 billion each.

Authorities said that by 2030 they expect a mature cycle where supply and demand reinforce each other, ensuring consumption steadily contributes to economic growth.

The directive highlights 10 priority categories for supply expansion, focusing on matching products with changing consumer needs. Officials are promoting eco-friendly goods, including new-energy vehicles, energy-efficient appliances and green building materials.

The plan also seeks to stimulate rural markets. It calls for energy-saving kitchen and bathroom fixtures designed for rural households and promotional tours to encourage purchases of autos and smart home products in the countryside.