Exciting news from Shanghai! The International Consumption Season 2025 and the sixth Shanghai 5-5 Shopping Festival officially kicked off in a dynamic event organized by the Ministry of Commerce, China Media Group, and the Shanghai Municipal Government. The launch, held in the Chinese mainland, aims to broaden foreign markets and stimulate international investment.
At the event, Vice Minister Sheng Qiuping highlighted the importance of international consumer cities aligning with central policies. He encouraged cities to lead the way in expanding consumption, setting new benchmarks, and leveraging diverse policies to enhance product consumption. By 2024, major cities like Shanghai, Beijing, Guangzhou, Tianjin, and Chongqing are expected to contribute around one-eighth of the country's total retail sales, with imported consumer goods making up over half of China’s total imports.
Culture and tourism also stole the spotlight. Vice President Wang Xiaozhen emphasized that cultural and tourist consumption, including a record-breaking performance from Chinese cinema, are crucial components driving economic growth. With a creative mix of ideas, art, and technology, the strategy is set to unlock even more market potential. 🚀
Adding an international flavor, Marwan Ahmed bin Ghalita, acting director general of Dubai Municipality, joined the launch via video link. He celebrated the 25th anniversary of the Shanghai-Dubai partnership and stressed the benefits of strengthening ties for mutual prosperity and development.
This vibrant event marks a turning point for the international consumption landscape, promising fresh opportunities for business professionals, young innovators, scholars, and global explorers alike. Stay tuned as these exciting trends continue to shape the future of economic growth and cultural exchange!
Reference(s):
Launch of intl consumption season looks to expand foreign investment
cgtn.com
