Intl consumption season launch aims to boost foreign investment
The International Consumption Season 2025 and the sixth Shanghai 5-5 Shopping Festival were officially inaugurated at a collaborative event held on Thursday in Shanghai, hosted by the Ministry of Commerce, China Media Group (CMG), and the Shanghai Municipal Government. The initiatives aim to enhance the expansion of foreign markets and investment.
TroibNews 
The International Consumption Season 2025 and the sixth Shanghai 5-5 Shopping Festival were officially inaugurated in a joint event held on Thursday in Shanghai, organized by the Ministry of Commerce, China Media Group, and the Shanghai Municipal Government. The primary objectives of the event are to further expand foreign markets and enhance investments.
During the launch, the Ministry of Commerce outlined various measures to foster the growth of international consumer cities. Sheng Qiuping, vice minister of commerce, emphasized the importance of these cities aligning with Central Government policies, stating that they should take the lead in expanding consumption, setting benchmarks, and effectively utilizing different policies to improve product consumption.
Sheng elaborated on future projections, stating that by 2024, the total retail sales of consumer goods in key cities such as Shanghai, Beijing, Guangzhou, Tianjin, and Chongqing are anticipated to represent approximately one-eighth of the national total. He also noted that imported consumer goods are expected to constitute over half of the country’s total imports.
In addition to trade, cultural and tourist consumption was highlighted as significant contributors to economic growth by Wang Xiaozhen, vice president of CMG. He pointed out that Chinese cinema has achieved unprecedented box office success, establishing itself as the largest market in the world. Wang called for further utilization of media brand resources and the activation of market potential by integrating a mix of ideas, art, and technology into communication strategies.
Marwan Ahmed bin Ghalita, acting director general of Dubai Municipality, participated in the launching ceremony via video link. He reaffirmed Dubai's dedication to its development strategy, which aims to position the city as the most attractive, sustainable, and high-quality living environment. Bin Ghalita expressed hopes of enhancing collaborative ties and promoting mutual prosperity and development between Shanghai and Dubai, coinciding with the 25th anniversary of the Shanghai-Dubai partnership.
Frederick R Cook for TROIB News
During the launch, the Ministry of Commerce outlined various measures to foster the growth of international consumer cities. Sheng Qiuping, vice minister of commerce, emphasized the importance of these cities aligning with Central Government policies, stating that they should take the lead in expanding consumption, setting benchmarks, and effectively utilizing different policies to improve product consumption.
Sheng elaborated on future projections, stating that by 2024, the total retail sales of consumer goods in key cities such as Shanghai, Beijing, Guangzhou, Tianjin, and Chongqing are anticipated to represent approximately one-eighth of the national total. He also noted that imported consumer goods are expected to constitute over half of the country’s total imports.
In addition to trade, cultural and tourist consumption was highlighted as significant contributors to economic growth by Wang Xiaozhen, vice president of CMG. He pointed out that Chinese cinema has achieved unprecedented box office success, establishing itself as the largest market in the world. Wang called for further utilization of media brand resources and the activation of market potential by integrating a mix of ideas, art, and technology into communication strategies.
Marwan Ahmed bin Ghalita, acting director general of Dubai Municipality, participated in the launching ceremony via video link. He reaffirmed Dubai's dedication to its development strategy, which aims to position the city as the most attractive, sustainable, and high-quality living environment. Bin Ghalita expressed hopes of enhancing collaborative ties and promoting mutual prosperity and development between Shanghai and Dubai, coinciding with the 25th anniversary of the Shanghai-Dubai partnership.
Frederick R Cook for TROIB News
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