China pushes smart home consumption with subsidies and financial support

Eight Chinese ministries, including the Ministry of Commerce, issued a plan to boost smart home consumption through subsidies, preferential loans and device compatibility standards. Home robots and health monitoring gadgets for the elderly will receive separate support.

• Subsidies to be tied to the 'yigu huanxin' trade-in program
• New buildings to include basic smart devices and fiber in every room
• Support for home robots and elderly health monitoring
• Banks advised to expand consumer loans for smart home and renovation