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Xinhua Silk Road
Local

Beijing expedites building of international consumption center

May 07, 2021


Abstract : Beijing is moving faster to build itself into an international consumption center by pooling more global quality business resources, according to a report by Beijing Daily on Friday.

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The Wangfujing shopping street in Beijing, capital of China, July 25, 2019. (Xinhua/Zhu Weixi)

BEIJING, May 7 (Xinhua) -- Beijing is moving faster to build itself into an international consumption center by pooling more global quality business resources, according to a report by Beijing Daily on Friday. 

With consumption upgrade, Beijing has become more attractive for international brands to set up their first stores in the city. Besides, Beijing Municipal Commerce Bureau has rolled out many measures in recent years to encourage international brands to set up their first flagship stores in the capital, under which brands can receive rent and decoration subsidies.

Statistics showed that Beijing attracted over 1,000 first stores of international brands to settle in the past two years, with 207 first stores opened in the city in the first quarter of this year alone.

To woo more brands to set up their first stores and facilitate the building of an international consumption center, this year, Beijing will carry out 100-odd online plus offline promotion campaigns and distribute eight million consumption gift packs specific for first stores.

Meanwhile, the capital city will continue advancing the upgrading and transformation of 15 traditional shopping malls while increasing supply for local night economy to craft landmark consumption circles, themed business circles and leisure life areas.

Beijing will also innovate business formats to boost international consumption by further optimizing the layout of duty-free shops in downtown areas during the 14th Five-Year Plan period from 2021 to 2025, and continue optimizing services for departure tax refund. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)

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Keyword: consumption

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