Wang Wentao: Will focus on key and potential areas such as transportation, household services, performances, and sports events, actively cultivate new growth points for service consumption.

Minister of Commerce Wang Wentao recently said in an interview that this year, China will focus on key and potential areas such as transportation, household services, performances, and sports events, actively cultivating new growth points in service consumption. This year, China will also focus on new tracks and offline entities, optimizing the implementation of the policy to exchange old goods for new ones. It will promote the improvement of support policies, eliminate unreasonable restrictive measures, and actively cultivate new growth points in service consumption. The policy of exchanging old goods for new goods in 2026 will offer greater support for the consumption of green and smart products, with a requirement for household appliances to meet the first-class energy efficiency or water efficiency standards, and subsidies will be included for smart watches, smart bracelets, smart glasses, etc. We will also actively support offline retail entities, encourage offline stores to leverage their comparative advantages, create diversified consumption scenes, enhance consumer experience, and promote balanced development of online and offline channels.