Shanghai launches initiatives to boost consumption and trade

Shanghai is implementing new strategies to bolster its status as an international consumption center through targeted industry upgrades and brand development.

The city has launched the 2027 Shanghai Souvenir declaration process, aiming to create a high-quality consumer goods matrix. This initiative focuses on seven professional tracks: healthy food and beverage, cyber technology, beauty and personal care, sports and outdoor gear, home living, cultural experiences, and IP-driven products. The program seeks to select benchmark products that reflect Shanghai's urban culture and innovation capabilities.

Additionally, the Shanghai Municipal People's Government has released its “15th Five-Year Plan” for accelerating the construction of an international trade center. A key component involves extending the automotive consumption chain. This includes piloting reforms in automotive circulation, expanding new car consumption, facilitating second-hand vehicle transactions, and developing the automotive aftermarket. Specific efforts in the Jiading District are targeting the classic car sector, while the city aims to integrate automotive racing with cultural tourism to drive secondary consumption in areas like car modification and high-end travel.