China's financial hub Shanghai launched on July 4 its "Shanghai Summer" international consumption campaign intended to attract global visitors and boost seasonal tourism-related consumption, which, however, has played a role in re-energizing the megacity's commercial property sector.

As part of the city's summer international consumption season activities, the 'Vivienne Westwood and Jewelery' exhibition is making its debut in Shanghai's Taikoo Li Qiantan, a shopping center in Shanghai's Pudong New Area.
Featuring exquisite collective jewelery, this exhibition is the first of its kind in Asia and the second stop after its debut in New Zealand.
Carlo D'Amario, CEO of Vivienne Westwood, explained why this renowned British fashion brand has chosen Shanghai as its first stop in China.
"Shanghai is one of the most important fashion towns in China. Our customer is very young. And China is full of that," he said.
Over 100 activities, including pop-up stores and entertainment performances, have been launched in Taikoo Li Qiantan since the beginning of the season.
"Apart from the RED (Xiaohongshu) and the original social channels within China, we are also introducing ourselves in the social platforms such as Instagram. For the last few weeks, we do see approximately a 20 percent up on the traffic and also a very significant growth in the sales," said Joanna Ku, general manager of Taikoo Li Qiantan.
These activities have helped the city's commercial property sector.
According to data from property consultant Cushman and Wakefield, Shanghai's average occupancy rate in its key commercial areas reached over 94 percent in the second quarter of this year, similar to the level seen last year.
But Shanghai's summer promotion season will last until October. That means more time for demand in the commercial sector to grow.
"We're seeing a shift in format. Retail is becoming more experiential. In fact, seasonal data shows 62 percent of spending now goes to experiences – the highest we've ever seen," said Kelvin Li, managing director of East China for Cushman and Wakefield, one of the world's largest commercial real estate services firms.
It's estimated that 29 new commercial complexes will be opened in Shanghai in the second half of the year, with a total area of 2 million square meters, providing new space for various activities to be held.