Status Quo: To boost the economy, the Chinese government has placed emphasis on implementing equipment renewal and consumer trade-in policies. Over the past few weeks, several authorities have released action and implementation plans which have an estimated value of around 5 trillion yuan. While also serving the promotion of China's green development, the policies include updates of 294 key national standards

Pulse Check: German companies should watch out for potential subsidies and probably need to adjust their practices to meet updated national standards. The emphasis on green development presents an opportunity for growth for companies by leveraging technical expertise and renowned products. Policies aimed at consumers could boost domestic demand, which foreign businesses are eagerly waiting for.

Source: AHK Greater China Policy Barometer vol. 2/2024