Business
2025/7/4
source: International daily
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Cities across China are rolling out measures to support the development of the country's emerging "debut economy" -- a new driver of consumer spending.
China's policymakers made the "debut economy" a 2025 priority at the Central Economic Work Conference in December last year. This concept encompasses product launches, flagship store openings, new service roll-outs, and the creation of innovative business models and technologies.
Shanghai is at the forefront of the debut economy push. Many leading brands have opened their first flagship stores in the country or in the world on the city's iconic Nanjing Road pedestrian street, drawing huge crowds. A new commercial complex on the street, themed around "ACG", or animation, comics, games culture, has received over 10 million visitor trips in just six months since its opening.
"It's a flagship store for products debut, so there are a lot of new and exclusive items. I brought my kids here to check it out. The store has a wide range of selection," said a consumer surnamed Wang.
From January to May this year, Shanghai has witnessed the opening of 365 new flagship stores, including 10 global or Asian debuts.
"We've kept enriching high-quality consumption supply in business districts to boost the debut economy, accelerating efforts to build a global consumption display window that embodies global trends, oriental charm, a convergence of brands, and vibrant energy," said Li Hongtao, deputy head of the commerce division of Shanghai Municipal Commission of Commerce.
Meanwhile, in Nanjing, capital city of east China's Jiangsu Province, a series of first-time exhibitions have been launched in shopping malls and open-air commercial blocks.
Local authorities have subsidized nearly 1,000 cultural performances and 40 themed exhibitions, enriching the consumption experience for both residents and tourists.
In northeast China's Liaoning Province, local governments are promoting campaigns centered on debut economy consumption. A China-French agricultural bazaar has recently concluded in Shenyang, the province's capital. The event brought a total of 16 high-quality French brands with their signature food and beverages to the province for the first time and were popular among residents.
"There are so many French delicacies that are really interesting. I hope there will be more events like this in the future," said Zhang Zhiming, a consumer.