China looks to rice cookers and ‘smart’ toilet seats to pep up slowing economy
Cabinet document lays out elaborate wish list to help create robust growth driven by buoyant domestic consumption
The Chinese government’s latest plan to perk up its slowing economy is based on the humble rice cooker and luxury toilet seats.
The development plan issued this week strikes a blow for China’s consumers, calling for better products to help create an economy driven by domestic consumption instead of trade and investment.
The cabinet document lays out an unusually detailed wish list: better electric rice cookers, kitchen appliances, “smart toilet seats” and smartphones.
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China makes most of the world’s consumer electronics, furniture and toys but domestic brands available at the prices its poor majority can afford are of uneven quality. The country has been plagued by repeated scandals over shoddy or fake food, medicine and other goods.
The latest plan says its goals are part the ruling Communist Party’s campaign to make the state-dominated economy more productive by shrinking bloated companies in steel and other industries.
Until now, official development plans have ignored deficiencies in products for the local market, treating the Chinese public as a source of labour rather than the rightful beneficiaries of economic growth.
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The party is trying to shore up growth that decelerated to a seven-year low of 6.7 per cent in the latest quarter. Forecasters see signs economic activity is improving but say overall growth could fall further this year.