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China
18.05.24 11:45
Economics

China launches new campaign to increase consumption

Shanghai positions itself as an international consumer center⁠

Shanghai has launched a new campaign to attract more foreign consumers to increase spending and position itself as an international consumer hub by providing convenience, diverse experiences and new trends. This was reported by Emirates News Agency (WAM), a partner of TV BRICS.

The 5th Shanghai "Double Five" highlighted the city's amenities such as hassle-free payments, a variety of experimental scenarios and popular exhibitions, as well as local recommendations on food, accommodation, transportation, sightseeing, shopping and entertainment.

According to the source, foreign consumption currently accounts for about 30 per cent of the main Shanghai shopping center. In the future, its management plans to provide services in more foreign languages.

Financial institutions and transport authorities of the city have also taken new measures to attract foreign consumers.

They partner with over 300 companies to provide exclusive tax refund services at check-out, offering instant refunds at 13 popular shopping malls.

The new campaign will also step up advertising efforts abroad to attract more foreign visitors so that they can explore Shanghai's new attractions, shops and emerging business formats.

The 5th Shanghai "Double Five", which started in May 2020, is part of China's broader efforts to revive consumer confidence and increase domestic consumption.

Photo: iStock

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