The International Consumption Season 2025 and the sixth Shanghai 5-5 Shopping Festival were officially launched in a joint event organized by the Ministry of Commerce, China Media Group (CMG) and the Shanghai Municipal Government on Thursday in Shanghai, with goals to further expand foreign markets and investment.
As China's Ministry of Commerce introduced several measures to support the cultivation of international consumer cities, Sheng Qiuping, vice minister of commerce, called for international consumer cities to proactively align with the Central Government's policies, leading the way in expanding consumption, setting benchmarks and effectively leveraging various policies to upgrade product consumption at the launching ceremony.
By 2024, the total retail sales of consumer goods in Shanghai, Beijing, Guangzhou, Tianjin and Chongqing are expected to account for about one-eighth of the national total, with imported consumer goods comprising over half of the country's total imports, Sheng detailed.
Aside from trade, Wang Xiaozhen, vice president of CMG, noted that cultural and tourist consumption also play major roles in bolstering economic growth.
Chinese cinema has seen a record-breaking box office performance, making it the largest market globally, Wang pointed out, urging to further harness media brand resources and activate market potential by incorporating a blend of ideas, art and technology in its communications strategy.
Marwan Ahmed bin Ghalita, acting director general of Dubai Municipality, also made a speech at the launching ceremony via video link.
Affirming Dubai's commitment to its development strategy, aiming to become the most attractive, sustainable and high-quality living city, he expressed hopes for strengthening collaborative ties and promoting mutual prosperity and development between these two global cities on the occasion of the 25th anniversary of the Shanghai-Dubai partnership.
(Cover: The International Consumption Season 2025 and the sixth Shanghai 5-5 Shopping Festival jointly launch in Shanghai on May 1, 2025. /CMG)