Pudong releases ambitious sales targets to reach by 2025

Annual retail sales of social consumer goods in Shanghai's Pudong New Area are estimated to exceed 400 billion yuan (US$57.8 billion) by 2025, while the revenue of the cultural, sports and tourism industry would exceed 300 billion yuan, according to goals released by Pudong.

The turnover of online shopping should reach 100 billion yuan and cross-border e-commerce trade volume should total 100 billion yuan by that time.

By 2025, Pudong planned to introduce 40 top 100 international retail companies, with 100 consumer goods enterprise headquarters and international economic organizations.

More than 1,000 brands would be introduced with their first local stores in Pudong. A number of international brand clusters similar to those in the Lujiazui and Qiantan areas would also be built.

Pudong would promote the construction of consumer landmarks in Lujiazui, Shanghai International Resort, the previous World Expo area, the Qiantan area, and the Nanhui New City.

There would also be some new consumer facilities and venues such as the shopping mall MIXC, the themed Ice and Snow World park, and the Grand Opera House, whose total sizes would exceed 2 million Pudong would further develop its "first store" economy, night economy, tax refund and exemption economy and green consumption. It would introduce 200 more new first stores every year, hold 10 to 20 influential first-launched commercial, tourism, cultural or sports events, and build a number of night economy demonstration projects.

It would create a platform for the integrated development of domestic and foreign trade, develop cross-border e-commerce, and accelerate the construction of the Shanghai International Cultural Relics and Artwork Trading Service Center platform and the National Copyright Innovation and Development Base.

It also plans to set up two to three live broadcast e-commerce bases and attract a group of digital technology developers and application technology service providers to settle there.

It would introduce 15 sports events with well-known intellectual property and create a health industry cluster, as well as a number of health service projects.

It would also provide events for business, tourism, cultural and sports exhibitions, which would help promoting Pudong as an international consumer center overseas.

Pudong would strive to launch one or two innovative legislative items in the field of consumption supervision.

Since the beginning of this year, the consumer market in Pudong has rebounded rapidly.

In the first quarter, the total retail sales of social consumer goods reached 99.1 billion yuan, recording a year-on-year increase of 14.5 percent, 9.3 percentage points higher than the city's average.

More than half of the top 10 retailers in Pudong showed double-digit growth.

Its upcoming Double Five Shopping Festival will last until the end of June and host 180 events in the five major themes of "shopping," "cultural tourism," "food," "events" and "exhibitions."