Guiyang aims to become consumption center

Guiyang, capital of Southwest China's Guizhou province, has been focusing on industrial transformation and upgrading and the upgrading of household consumption in recent years.

It has taken actions to revitalize commerce, expand the effective supply of the service industry, boost the development of new commercial complexes, and increase the coverage of supermarkets and convenience stores. Guiyang's average annual growth rate of total retail sales of consumer goods is 9 percent.

To further stimulate consumption, Guiyang aims to become a regional consumption center by establishing core commercial areas, high-quality pedestrian streets, demonstration streets for the nighttime economy, chain convenience stores, and 15-minute living circles.

According to Guiyang's development plan for commercial areas in 2020-25, the city lacks shopping centers that cover an area of 100,000 to 200,000 square meters and have a significant influence on the market.

In addition, the pandemic has influenced people's shopping habits. People are now more likely to shop online, which impacts the real economy. Guiyang plans to re-evaluate its current commerce development and guide core commercial areas to be more unique and specialized.

So far, Guiyang has established seven middle and high-end shopping centers, upgraded three pedestrian streets, built four demonstration streets for the nighttime economy, opened 300 chain convenience stores, renovated 30 farmers' markets, adjusted 14 supermarkets, and built two intelligent farmers' markets.

Guiyang has also signed 7.5 billion yuan ($1.19 billion) in commerce projects, 1.55 billion yuan of which has been paid up, and offered 11.95 million yuan in funds for 33 projects that applied for consumption upgrading.

In the future, Guiyang will work to increase the popularity of more commerce streets, develop its nighttime economy, offer guidance for the development of commercial areas, build more middle and high-end shopping centers, pedestrian streets, and demonstration streets for the nighttime economy, and support the construction of commerce projects.