China releases three year action plan for information technology consumption

China’s Ministry of Industry and Information Technology (MIIT) and the National Development and Reform Commission have jointly released The Three-Year Action Plan to Expand and Upgrade Information Consumption (2018-2020) (in Chinese).

The Action Plan is part of the National Congress’ advocacy to encourage domestic consumption. According to the document, China aims to expand the scale of information technology-related consumption to RMB 6 trillion and maintain an average annual growth of the sector at 11% by 2020. In the same period, 98% of villages in China will have established a 4G network.

The Action Plan stresses four main sectors: new information technology supplies, information services, consumption willingness building, and the improvement of information technology’s business environment. The document also hopes to encourage individual and institutional consumption of IoT services, intelligent communication devices including AI/AR products, and industrial equipment such as high-tech screens and autonomous driving components.

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