China will accelerate the transformation of five major cities — Shanghai; Beijing; Guangzhou, Guangdong province; Tianjin; and Chongqing — into global consumption centers on par with New York and London, and create globally attractive retail environments, as part of the country's latest moves to boost consumption.

The document, formulated by the Ministry of Commerce, said China aims to further expand domestic demand and promote high-standard opening-up.

The country will actively promote the debut economy by supporting high-quality domestic and foreign brands to launch new products and exhibitions, and providing Customs clearance convenience for new imported products.

The government will support the holding of events such as fashion weeks and car expos in these five cities. It will also work to attract high-quality global brands to launch their first stores, establish research and development design centers as well as regional headquarters, the document said.

As part of measures to build global consumption centers, China plans to further expand its unilateral visa-free entry policy in an orderly manner, and better leverage the role of tax refund stores and tax refund policies by opening more such stores and optimizing tax refund procedures for overseas visitors.

Source: China Daily
Editor: Lyu Yun