Shanghai pushes to develop fashion, consumer goods sector

The fashion and consumer goods sector is widely said to be an important marker for a city that is continuously enhancing its levels of core competitiveness.

The Action Plan for the High-quality Development of Shanghai's Fashion and Consumer Goods Industry, which was released on Dec 15, projects that the city in East China will achieve an industrial scale in the sector of over 520 billion yuan ($74.62 billion) by 2025.

That's with an average annual growth rate of five percent in the fashion and consumer goods industry.

The plan also includes nurturing three to five leading industrial  enterprises in the field with annual sales topping 100 billion yuan and 20 enterprises with annual sales of 10 billion yuan by 2025.

During the timeframe, a number of functional headquarters for leading global industrial companies will also be introduced.

What's more, Shanghai is projected to build 10 smart factories, 100 digital applications scenarios, as well as three to five industrial parks and a number of creative spaces for the sector by 2025.

According to official data, from January to November this year, Shanghai introduced 982 first stores for various consumer brands – including 10 brands' global or Asia first stores and 130 China brands first stores.