City’s new plan looks to boost consumption
AN action plan to boost consumption in Shanghai was unveiled yesterday, laying out major tasks in commerce, retail, tourism and sports sectors as well as the city’s economic planning bodies.
By 2027, the service industry is expected to contribute to over half of the city’s total retail market, according to the action plan covering 12 major targets and dozens of specific campaigns over the next few years.
An integrated service consumption ecosystem will be formed in the next decade featuring high-quality, innovative, digitalization and green elements to fully enhance awareness and vitality of the consumption scene.
“Shanghai is set to become a world-class benchmark destination for service consumption,” said Zhu Min, director of the Shanghai Commerce Commission.
Cheng Meihong, deputy director of the Shanghai Culture and Tourism Administration, said the number of performances and box office income is expected to surpass last year’s.
As many as 176 performances have already been booked this year at major venues such as the Mercedes Benz Arena and Oriental Sports Center.
More coordinated efforts will be made to enhance tourists’ experience, with follow-up measures at Chinese visa centers, local airports and cruise terminals.
Shanghai’s tourism industry income is expected to reach 550 billion yuan (US$76.4 billion) by 2027 with the city’s iconic brand identity set to become more visible and overall competitiveness to be further enhanced.
Leading digital retailers and lifestyle service platforms have pledged new measures to offer new consumption modes and trade-in services to encourage upgraded home appliances.
As much as 500 million yuan in subsidies are provided by Alibaba’s retail site Tmall this year to encourage trade-in of home appliances and smart gadgets. The tradein service will offer delivery as well as the dismantling of old machines to encourage the circular economy.
Recent data already shows steady recovery for leisure consumption in the city.
The amount of on-demand delivery for catering and groceries on Meituan jumped 20 percent in the first two months and the amount of spending from domestic tourists surged 58.5 percent in the first two months.
Also planned is a series of street bazaars, coffee festivals and offline campaigns to fully leverage digital capabilities to maximize the effect of promotional campaigns.