Key facts
- Eight Chinese government departments have released guidelines to accelerate AI integration into consumption.
- The plan aims to boost AI consumption by increasing the supply of smart terminals and integrating robotics and brain-computer interfaces.
- Key focus areas include eldercare, retail, and logistics system upgrades.
- China has set a GDP growth target of 4.5-5% for the year, supported by record fiscal spending and investment.
- The strategy emphasizes expanding domestic demand and rebalancing the economy towards consumption and higher-quality investment.
China is rolling out a comprehensive plan to integrate artificial intelligence into its consumption sector, aiming to stimulate economic growth and innovation. Eight government departments, including the Ministry of Commerce, have released guidelines focused on boosting AI-driven consumption from both supply and demand perspectives.
The measures include expanding the availability of smart terminals and promoting the use of robotics and brain-computer interfaces in consumer markets. The policy also targets the enhancement of public services, particularly in eldercare, and the modernization of retail and logistics systems.
This initiative is part of a broader economic strategy for the year, which includes a GDP growth target of 4.5-5%. The government plans to implement proactive macro policies, with record levels of fiscal expenditure, new government bond issuance, and central transfers to local authorities. Total investment in infrastructure, public services, and key areas is projected to exceed 7 trillion yuan.
Specific financial measures include 250 billion yuan in ultra-long special treasury bonds for consumer goods trade-in programs and another 100 billion yuan to support private investment and consumer spending. The People's Bank of China is set to employ flexible monetary policy tools, such as cuts to required reserve ratios and interest rates, to foster a conducive environment for development.
China also aims to promote balanced trade growth, stabilizing exports while increasing imports and opening its vast domestic market to global opportunities. The strategy emphasizes building a robust domestic market and rebalancing the economy from investment-led growth towards consumption and higher-quality capital formation in strategic sectors like AI, with private firms playing a crucial role.