China Issues Plan to Expand Goods Consumption to Around 60 Trillion Yuan by 2030

China's Ministry of Commerce and six other departments have issued an implementation plan to expand and upgrade goods consumption, setting a target for total retail sales of consumer goods to reach around 60 trillion yuan by 2030, according to Jiemian News. The plan calls for measures to stimulate offline consumption, with support for new-product in-store experiences, consumer scene building and the development of physical retail. Jiemian News also said the policy has recently boosted shares in general retail and specialty chain segments, while consumer-related funds may be entering a deployment window. The article highlighted Pengyang Consumer Quantitative Stock Selection Mixed Fund, noting that its A share class 019777 and C share class 019778 use five factors — valuation, expectations, operating quality, growth, and price-volume — to select consumer stocks, and that the fund had cumulative returns of 24.37% since its launch on December 19, 2023, with annualized returns of 8.68%. It also reported a 24.91% excess return versus its benchmark since inception and a 26.47% return over the past two years, with 27.33% excess return versus the benchmark.