Shenzhen aims to become a business center for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in the next five years, according to a business development plan (between 2021 and 2025) recently released by the Municipal Commerce Bureau.
The draft plan, which has been published to solicit public opinions, said that Shenzhen will have 130 shopping malls with an area of over 30,000 square meters by the end of 2025.
Shenzhen will focus on the development of key fields including consumption, trade, investment and business attraction between 2021 and 2025, according to the plan.
The city aims to become an international central consumption city, global digital business innovation city, international trade central city, high-level opening-up city, global resources allocation hub city and business mechanism innovation model city between 2021 and 2025.
Shenzhen aims to achieve 970 billion yuan (US$138.59 billion) in total retail sales of consumer goods and 110 billion yuan in total sales of dining and hotel industries by 2025 to make them become the key drivers of economic development.
The city has also set a goal to reach 5,300 billion yuan in sales of products, 3,850 billion yuan in e-commerce sales and 97 billion yuan in online retail sales by the end of 2025.
E-commerce and traditional industries will be integrated to become the vital forces for the sales of consumer goods.
An aerial business corridor and a luxury brands street will be built at the Houhai super headquarters and Qianhai Cooperation Zone, respectively.
Futian CBD, Huaqiangbei business circle and Chegongmiao-Jinsha business circle, Wongtee Plaza and Coco Park in Futian District will be developed into high-end business circles.
The five projects included in the plan are: construction of business infrastructure, construction of business belts at checkpoints, internationalization of business circles, construction of specialized business streets and innovative update of bonded zones.
Businesses will be promoted at areas surrounding checkpoints including Shatoujiao, Liantang, Wenjindu, Luohu, Huanggang and Futian checkpoints.
Plans will also be drafted to construct a new consumption center on the east Guangdong costal economic belt to enhance the ability to allocate global consumption resources, according to the plan.