Proposal for a duty-free hub for CIIE products in downtown Shanghai
People flock to the Yuyuan Garden Malls for the annual lantern fair.
A local political adviser has suggested creating a duty-free shopping hub in downtown Shanghai to sell popular imported products at the annual China International Import Expo (CIIE).
A Duty-free Import Shopping Cluster was proposed at the Two Sessions on Friday to be created at the commercial complexes in Huangpu and Jing'an districts, such as Yuyuan Garden, Nanjing Road E. and Huaihai Road.
"Customers will be able to buy the duty-free products that have been exhibited at the CIIE to revitalize consumption that was impeded by the COVID-19 pandemic," said Huang Zhen, a member of the Shanghai Committee of the Chinese People's Political Consultative Conference and president of Yuyuan Inc.
The CIIE is China's key trade fair that boosts consumption upgrading, but popular products by overseas exhibitors rarely make it to the local market or are accessible to domestic consumers after the event, Huang said.
Art installations at the Xintiandi commercial hub
In addition to the fact that the duty-free policy for foreign goods is only applicable during the six-day event, shopping platforms for CIIE products are inadequate, he explained.
He suggested creating a "global import trade service platform," which would help CIIE exhibitors turn their displays into duty-free goods after the annual event is over.
He noted that they can be sold at the commercial centers of Huaihai Road and Xintiandi, which has been designated as one of China's new national pilot zones for import trade.
In November 2022, eight ministries, including the Ministry of Commerce and the National Development and Reform Commission, presented the Huaihai-Xintiandi import demonstration zone in advance of the fifth CIIE.
The newly listed Shanghai region is one of 28 national import trade pilot zones.
Customers shop at a nostalgic store on Huaihai Road.
