‘Golden key’ of consumption for China and the world

Shanghai is the city I visited most in China over the past two decades. I witnessed that consumers in Shanghai have always been among the first to enjoy the most brands and the best products from all over the world, the first to have access to the latest retail innovations, and the first to set trends in the consumption upgrade, social consumption and sustainable consumption in China and worldwide.

We believe that the day when Shanghai realizes its goal to become an international consumption metropolitan with worldwide impact is not far, and Shanghai can definitely play a greater role in leading the future of consumption at home and abroad, becoming a role model in building a wellrounded culture with increased wellbeing for all.

In my view, a closer win-win cooperation between government and corporations under a more open, fair, and predictable business environment can accelerate progress toward this future. To be more specific, it is important to establish a more effective platform with a systematically integrated administration and committed leading companies to facilitate the development of more market-oriented and meaningful policies. We also look forward to a further streamlined administration to help companies increase their operation efficiency and respond more promptly to the fast-changing market demands.

We also expect that local taxes, fees and intellectual property protection systems can be further aligned with international practices so that companies can share these benefits with consumers through more innovative and aspirational products, services and consumption experiences powered by disruptive technology at more favorable prices.

Catering to the booming demands for personalized products also requires the introduction of an innovative market-access administration system for high-quality customized products, but still based on strict safety and reliability regulations. Regarding sustainable consumption, we expect increased partnerships with the government to motivate more local consumers to practice green consumption and advocate it as a the newest trend.

With our joint efforts, I am confident Shanghai will shine as the world’s lighthouse for new consumption that is boundless in countries and channels. We are ready to create a brighter future with Shanghai and China by banishing the “golden key” of consumption together.