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China unveils plan to revamp ‘classic products’ in bid to boost sluggish consumer spending

Heritage is the latest sector targeted by authorities, following similar efforts in the sports, winter tourism and nightlife industries

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A staff member makes a herbal drink at the Guizhou University of Traditional Chinese Medicine in Guiyang, southwest China’s Guizhou province. Photo: Xinhua
Xinyi Wuin Beijing
China is leaning on its cultural heritage to jolt sluggish domestic spending, rolling out a push to modernise industries ranging from silk and tea to liquor, ceramics and traditional Chinese medicine.

Authorities laid out plans to cultivate 50 leading enterprises in heritage industries, each with a scale of at least 10 billion yuan (US$1.49 billion), by 2028, according to a statement released on Monday by six government departments.

“Many classic products are perceived as somewhat outdated and struggle to capture the attention of young people,” said Xie Yuansheng, vice-minister of industry and information technology, at a press conference in Beijing on Monday.

The goal is to make heritage products “trendy” and appealing to both young people in China and abroad, Xie said, adding that officials would support collaboration between these industries and prominent designers, brands and fashion companies.

The push comes as policymakers seek new levers to stimulate household spending, which remains constrained by a battered property sector and soft labour market. Retail sales grew just 0.6 per cent in July, missing forecasts and coming in lower than the 1 per cent recorded in June.

Heritage products are the latest in a line of sectors targeted by authorities, following similar policy efforts in the sports, winter tourism and nightlife industries.

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