By Wang Nian, Li Hanqing, Su Nuoya & Wang Wei, Institute of Market Economy, DRC

Research Report, No.344, 2021 (Total 6409) 2021-11-18

Abstract: The booming sales of home-made products are generally accompanied by economic growth of a country that moves from the ranks of late starters to the ranks of leading the pack. In recent years, a number of made-in-China products with popular brands have become the best sellers in the market, which is closely related to China’s shift to the phase of high-quality development. Overall, the domestic products with popular brands have entered a stage of exponential growth, becoming a new driving force for upgrading consumption and providing a new approach for high-level dynamic balance between supply and demand in the digital economy era. But it needs to be noted that the competitiveness of these home-made products in the mid-to-high-end market still remains to be enhanced, the variety, quality and the brand building of the these products are in urgent need of improvement and market environment and supporting policies need to be refined. With the strong consumption demand of new domestic products, we need to improve the variety, quality and brand building of the new products, explore the innovation of fiscal and taxation policies, encourage new domestic products to go global, develop distinctive new domestic products in cities known as international consumption centers and strengthen promotion to develop higher-level dynamic balance between supply and demand.

Keywords: new made-in-China products, consumption, high-level dynamic balance between supply and demand, domestic demands