Shanghai unveils plan to build international consumer city

Shanghai in East China is set to host the fourth annual Double Five Shopping Festival, the Double Six Nightlife Festival and to issue special discount vouchers for cultural tourism, sports, restaurants and catering outlets, as well as for the retail and other industries in the coming year.

That's in a bid to stimulate the consumer sector, according to a work plan released on March 1.

A number of new consumer landmarks featuring diverse business models, a range of functions, distinctive themes and integrated culture are set to be launched this year.

The city will build 20 smart demonstration markets, upgrade 5,000 public space seating areas, introduce over 800 flagship and first stores, facilitate live-streaming and e-commerce transactions topping 200 billion yuan ($29 billion) and establish a number of night-time activities hotspots.

To accelerate its development as an international consumer city, Shanghai will aim to further optimize its institutional supply and business environment. The city will support the Pudong New Area's moves to boost the innovative development of its cosmetics industry.

In addition, the city will support Huangpu district to build a demonstration area for the night economy in Shanghai. The city will also encourage key commercial districts and business areas to enable mobile payments by overseas individuals within China.