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City adopts an action plan to build itself into an influential global consumer market

    Shanghai will build itself into an influential global consumer market featuring a tradition of excellent commercial civilization, according to a working conference held by the Shanghai Commission of Commerce on Wednesday.

    The conference adopted a three-year action plan for building Shanghais shopping brands and accelerating the construction of a global consumer city.

    The plan focuses on creating and satisfying consumers needs, enhancing consumption innovation, creating the brand aggregation effect, improving consumption convenience, promoting new consumption fields, and revitalizing commercial landmarks and time-honored brands. It will also link up industries of conventions, commerce, tourism, culture and sports, and optimize the consumption environment.

    The action plan specifically highlights promotion of new retailing formats, business models innovation, intelligent and integrated consumption development, and bringing back home some of the Chinese shoppers overseas spending. Through business landmarks remodeling, the city will build world-class business districts to advance the construction of Shanghai Night Consumption demonstration regions.

    Also, the city will mobilize 100 time-honored brands to form an exhibition association, create consumption brand clusters to form collections of middle- and high-end consumer brands, and build fashion brands such as Shanghai Fashion Week into global influential platforms to promote Chinas fashion brands while organizing shopping festivals of various themes.

    The conference also worked out the 2018 commercial work targets, according to which the citys gross merchandise sales and the total retail sales of consumer goods should both grow 8 percent; e-commerce transactions will increase by 20 percent or 1 trillion yuan (US$158.15 billion); port trade volume, Shanghais import and export volume, and service import and export should increase by at least 5 percent.

    The 6 day 365 days one-stop service platform is under construction in line with the Ministry of Commerces directions. When finished, the exhibition platforms of machine tools, alcohol, cosmetics and other bonded goods in Waigaoqiao Free Trade Zone, Hongqiao Perennial Exhibition and Trading Platform, Commodity Centers from Australia and other countries, Xijiao International Imported Products Direct Sales Center, will dock with the upcoming 2018 China International Import Expo to provide overall services to the participating parties of the expo.

    Wu Qing, vice-mayor of Shanghai, attended the meeting.