Shanghai aims to become global consumption center with new initiatives

Shanghai is set to become a global consumption center as it launches a plan to promote its international consumer status.

The fourth annual Double Five Shopping Festival and the promotion conference for the international consumer center are among the initiatives that will be carried out to achieve this objective.

The city will also host the Double Six Nightlife Festival, a 24-hour global forum on vitality cities, and a summit for nightlife CEOs.

The city and its districts will collaborate to provide special consumption vouchers for tourism, sports, catering and retail.

To promote a 15-minute convenient life circle, the city will create three national-level pilot areas and 30 city-level pilot towns or communities.

It will set up 20 smart markets, renovate 5,000 seats in public spaces, and strive to attract over 800 first and flagship stores throughout the year.

Shanghai will promote the development of the cosmetics industry through innovation policies, and support the integration of foreign and domestic trade in bonded areas.

It will also create policies for night economy development, which integrates public security, transportation, sanitation and consumption needs.

The city will improve mobile payment service for inbound travelers using foreign bank cards.

Shanghai's plans aim to enhance its international competitiveness, reputation and global impact, and to further optimize its institutional supply and business environment.