Ten billion yuan in­vested in com­mer­cial streets

Global Times – Metro Shanghai - - PULSE -

Shang­hai aims to build a “Shang­hai Shop­ping” brand over the next three years. The mu­nic­i­pal govern­ment plans to in­vest 10 billion yuan ($1.57 billion) to re­build and up­grade Nan­jing Road and Huai­hai Road, turn­ing the two old streets into a world-class com­mer­cial area, said Shang Yuy­ing, di­rec­tor of Shang­hai Mu­nic­i­pal Com­mis­sion of Com­merce, at a govern­ment press con­fer­ence Tues­day, Laodong Daily re­ported.

Nan­jing Road is known as “China’s first com­mer­cial street” and Huai­hai Road boasts a his­tory of about 100 years.

The au­thor­ity also aims to build 20 char­ac­ter­is­tic com­mer­cial streets, 50 tra­di­tional brand stores and 100 fa­mous brand stores around Shang­hai. Shang in­tro­duced gen­eral guide­lines and mea­sures to build the “Shang­hai Shop­ping” brand. The gen­eral goal of the plan is to re­shape Shang­hai’s shop­ping en­vi­ron­ment, mak­ing the city’s con­sump­tion mar­ket at­trac­tive to con­sumers all over the world.

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