Shanghai to build up world shopping hub
Print Edition
SHANGHAI will use the first pilot program of tax-free policies to attract more Chinese, who now shop overseas, to do their shopping in the city which has high ambitions to become a world-class shopping hub.
A recently-released three-year action plan to create a Shanghai Shopping brand will see the city develop into a testing field and a competitive hub for new business by 2020. The plan will foster consumption as a tool to grow the economy steadily into a high-quality one.
“The city will take various measures to build a global consumer market and create commercial activities to match with a global city of excellence to foster an international consumption city with global influence,” said Shang Yuying, director of the Shanghai Commerce Commission, at a press conference yesterday.
Although Shanghai has been among the first choice of leading brands to launch their new products, it still trails international cities like New York and Paris for consumption.
Shanghai will unveil a program launch ceremony at the end of May to entice more brands to debut or release new products in the city first, Shang said.
The city will nurture commercial zones in downtown landmark areas and shopping streets featuring traditional Shanghai style to enhance its allure to global shoppers.
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