Shanghai plans new policies to boost consumption

Shanghai will make continued efforts this year to further improve the consumption environment, introduce more supply-side innovation, enrich consumption scenarios and provide more incentives to consumers to further boost consumption, which is integral to sustained economic growth, said officials of the municipal government during a news briefing on Friday.

Liu Min, deputy director of the Shanghai Municipal Commission of Commerce, said that more precise and effective stimulative policies will be rolled out to boost service consumption and new types of consumption.

Debut economy, silver economy, nighttime economy, and ticket office economy should seek substantial development to boost consumption demand, said Liu.

Shopping carnivals will play an important role to boost consumption, according to Liu. "Shanghai Summer" International Consumption Season, which was inaugurated last year, will come to the second edition this summer to boost inbound consumption. Consumption activities related to the low-altitude economy will be held during this year's "Shanghai Summer", she said.

Efforts will be made to improve foreign tourists' shopping experiences in the city, according to Ma Yinghui, deputy director of the Shanghai municipal government's foreign affairs office.

International Services Shanghai, the multilingual portal launched by the municipal government in early 2024, will update the latest service information and activity agenda during the major shopping carnivals such as "Shanghai Summer" and the annually held May 5 Shopping Festival. The portal will explain in details consumption policies such as tax refund, she said.

The International Experience Officer program, which was launched by the local foreign affairs office last year, will help with major business districts and companies to further improve services provided to foreign tourists such as online shopping, e-maps, food delivery, courier services and online ticket booking for movies and exhibitions. About 100 foreigners from 37 countries have joined the program, said Ma.

Soliciting new foreign investment and boosting consumption will be better coordinated, said Qiu Wei, chief engineer of the Shanghai Municipal Commission of Economy and Informatization.

The local government will hold a promotion in Osaka of Japan in late May, the first overseas promotion of the kind. By facilitating the outbound reach of Chinese domestic brands, the event will help to demonstrate the charm of Shanghai brands while seeking more cooperation opportunities, she said.

Consumption on information services will be another focal point. By holding an activity under such theme, the local government aims to drive consumption online games, digital gadgets, as well as online audio and video services by integrating new technologies such as metaverse, AI large language models and smart chips, according to Qiu.

The Shanghai Legoland resort is scheduled to open this summer, according to Shanghai Municipal Administration of Culture and Tourism.

Apart from helping to hold key games such as 2025 Formula 1 Chinese Grand Prix and 2025 World Rowing Championships, the local administration of sports will issue 60 million yuan ($7.9 million) of sports consumption coupons, said the administration's deputy head Xu Qi.