In a recent media interview, Yuan Liqun, the vice president of Midea Group and a member of the National People's Congress, announced that the company plans to invest 1.5 billion yuan in the smart home industry over the next three years. During this year’s Two Sessions, she also called for improvements to the "Anti-Unfair Competition Law" and emphasized the need to combat "defective brand" practices. Additionally, she advocated for the establishment of a unified certification standard for smart home appliances to promote industry growth and consumer confidence.
As China's economy transitions into a new phase, the traditional "demographic dividend" is fading, and many companies struggle with limited technological capabilities and low international competitiveness. Facing challenges in global expansion, businesses are also adapting to changing consumer behaviors driven by the Internet. In response, Yuan shared how Midea has restructured its strategy to align with the new economic normal.
Midea has focused on three core strategies: product leadership, efficiency-driven operations, and global expansion. The company has invested heavily in R&D to enhance product innovation and optimize design. It has also streamlined operations by divesting underperforming assets, improving overall efficiency and asset utilization. According to Yuan, enterprises must stay innovative and embrace digital transformation to remain competitive.
She highlighted the importance of integrating global resources and collaborating with top international partners. Midea has begun investing in early-stage startups, with an initial allocation of 800 to 100 million yuan. This approach reflects the company’s commitment to fostering innovation through strategic partnerships.
Looking ahead, Midea aims to build a comprehensive smart home ecosystem. Since 2014, the company has been developing four key systems: "Air Wisdom Manager," "Nutrition Wisdom Manager," "Water Health Wisdom Manager," and "Energy Security Wisdom Manager." These systems aim to create seamless connectivity and intelligent control between home appliances. By 2016, Midea planned to have over 80% of its products be smart devices, significantly boosting market presence.
Despite growing interest in smart home technology, Yuan pointed out that the lack of standardized regulations remains a major obstacle. She urged the government to introduce clear safety and performance standards for smart appliances, which would help prevent resource waste and promote sustainable development in the sector.
In addition, she addressed the issue of "brand imitation" or "å‚å牌" (free-riding on well-known brands), where unscrupulous actors misuse popular trademarks to mislead consumers. This practice not only harms brand owners but also deceives customers, often with similar negative effects as counterfeit goods. To tackle this, Yuan proposed strengthening the "Anti-Unfair Competition Law" by clearly defining penalties for those involved in such activities and prohibiting the use of well-known trademarks in misleading ways.
By uniting efforts between the private sector and the government, China has the potential to lead globally in the smart home industry. With continued investment, regulation, and innovation, the future looks promising for both Midea and the broader smart home market.
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