Beijing strives to become a global consumer center

A view of the CBD area in downtown Beijing. [Photo/Sipa]

The new consumption represented by e-commerce and live streaming economy is booming, and Beijing has also actively promoted the development of live e-commerce platforms in shopping, catering, convenient services , entertainment and sports, tourism, cross-border e-commerce and other fields.

As digital consumption becomes a key element of new consumption, Beijing is making every effort to become a benchmark city in digital consumption. The emphasis on the driving effect of consumption on the economy reflects Beijing’s adherence to the law of economic development. As consumption of all kinds has received a boost in recent years, Beijing has ushered in a major opportunity to build itself into an international consumer hub.

In July 2021, the State Council elected to reclassify Beijing and five other cities as “international consumer hub cities”. Beijing has also enacted an implementation plan which, by carrying out 10 special actions comprehensively, strives to take the lead in making the capital an international consumption center by 2025.

Behind these efforts is the rapid growth of total retail sales of consumer goods in Beijing in recent years. Improving the economic power and consumption capacity of residents is the key. At the same time, Beijing’s innovative business vitality is also leading the global consumption trend.

From a global perspective, transforming into an international consumption hub city not only provides Beijing with the opportunity to achieve its economic structural transformation, but also is the only way for it to participate in global competitions to become the world’s leading city. of the world on behalf of China. . It is reported that during the period of the 14th Five-Year Plan (2021-25), Beijing will significantly improve its level in key indicators such as international reputation, consumer prosperity, business dynamism and political leadership for forge “the example of Beijing” for China. international consumer hub cities”.