SZ aims to become global consumer spending hub

Writer: Zhang Yu  |  Editor: Stephanie Yang  |  From: Shenzhen Daily  |  Updated: 2021-03-30

Shenzhen has rolled out measures in a bid to build itself into an international consumer spending center.

Zhou Mingwu, deputy head of the Shenzhen Municipal Commerce Bureau, gave a rundown on the measures at a press conference held by the Guangdong Provincial Government Information Office in Guangzhou yesterday.

Shenzhen will put in place a key project that includes the construction of a high-quality core commercial area, a stylish shopping street and a night-economy commercial street with Shenzhen characteristics, and cultivate a batch of consumer-focused private enterprises. Meanwhile, it will pool resources from home and abroad to enhance supply chain capability amid its consumption drive.

According to the official, Shenzhen will continue to polish up Happy Shopping in August, a monthlong shopping extravaganza hosted by the city government to attract tourists across the country and stimulate consumer spending. It was launched in 2019.

“Next we will beef up efforts to enrich the activity and strengthen the integration between industries. Our goal is to make this event the most influential and the largest shopping carnival in the Guangdong-Hong Kong-Macao Greater Bay Area,” said Zhou.

Shenzhen will also work to invigorate the MICE (meetings, incentives, conventions and exhibitions) economy. It is expected that there will be more than 150 large exhibitions with a total exhibition area of more than 6 million square meters held in the city this year.

In terms of taking part in exhibitions, Shenzhen plans to participate in 44 large-scale exhibitions throughout the country this year, so as to help enterprises further tap into the domestic market and promote economic and trade exchanges. According to Zhou, Shenzhen will further elevate its distinctive food brand “圳品” (zhenpin), which refers to food and agricultural products that meet the requirements of Shenzhen food standard.

Zhou disclosed that Shenzhen has evaluated 436 categories of food from 108 enterprises and put 246 products under the brand so far. The products, which come from across the country, cover vegetables, fruits, meat, eggs, tea and other agricultural foods.

Zhou said Shenzhen will also leverage the advantages of e-commerce, adding that the city has introduced a host of measures to boost the growth of e-commerce platforms. Data showed the total transaction volume of e-commerce in Shenzhen increased by more than 10 percent in 2020.