China's State Council has recently approved the 15th Five-Year Plan for Expanding Consumption. The plan outlines key directions for consumption upgrades over the next five years, focusing on new products, new scenarios, and new business models.
In the area of new products, the plan calls for improving the R&D mechanism for AI-related products. This includes promoting the integration of AI with brain-computer interface, augmented reality, and virtual reality technologies to create globally leading smart consumer goods. It also specifies increasing the effective supply of next-generation smart terminal devices such as AI phones and computers, smart wearables, smart robots, and desktop 3D printing equipment.
Additionally, pilot programs will be launched for the market access and road operation of intelligent connected vehicles. The development and interconnectivity of smart security and video care systems will be accelerated. The plan proposes cultivating the first-store economy by supporting high-profile first stores, first-release events, and facilitating the import of debut products. It also encourages the development of consumer products like animation, trendy apparel, and designer toys, while increasing the supply of high-quality digital museum products.
In terms of new scenarios, technologies such as AI and virtual reality will empower life services and tourist attractions. The plan focuses on sectors like home services, elderly care, culture and tourism, education and training, and rehabilitation care, using AI to create immersive and interactive consumption scenarios. An open list of AI consumption applications will be established, and supply-demand matching activities will be organized. Key commercial districts and streets will be upgraded to immersive and interactive multi-scenario spaces, with pilot projects rolled out.
For new business models, the plan emphasizes enhancing ultra-high-definition content supply in broadcasting, television, and online audio-visual services. New film formats such as VR films and LED digital cinemas will be promoted. Meanwhile, it encourages exploring new models like AI product leasing and shared trials, supports digital marketing by physical retailers, and guides the healthy development of instant retail and livestream e-commerce.