Shanghai Aims to Boost Consumption, Stabilize Foreign Trade in 2026

Shanghai's total retail sales last year climbed 4.6 percent year-on-year to reach 1.7 trillion yuan (US$246 billion), outpacing the national growth by 0.9 percentage points, city officials told an investment briefing event.

Boosting consumption and stabilizing foreign trade and foreign investment are the major targets for the city's commerce sector in 2026.

Shanghai is also on the right track to enhance its core functions to drive economic growth and lay a solid foundation for the 15th Five-Year Plan (2026-30).

The Briefing on Shanghai's Commerce and Investment was held on Wednesday at the Shanghai Eastern Hub International Business Cooperation Zone.

Over 400 guests, including officials from 38 countries' consulates general in Shanghai, officials of 21 overseas economic and trade investment promotion agencies stationed in the city, and representatives of more than 200 foreign-funded enterprises, attended the meeting.

Vice Mayor Lu Shan extended a warm invitation to foreign investors to choose Shanghai as their preferred regional headquarters to establish a presence in China and serve the global market.

"With the continuous expansion of the Chinese market and Shanghai's ongoing efforts to enhance high-level openness, more development opportunities will be available for enterprises from all parts of the world," he said.

Key tasks in the coming year include making greater efforts to boost consumption, further stabilizing foreign trade and foreign investment, and deepening the construction of an international trade center, according to Shen Weihua, director of Shanghai Commission of Commerce.

"We'll continue to seek new potential investors and provide more tailored service for existing ones to strengthen the city's attraction for top-level global resources," he said.

Shanghai also remains determined to push pilot reforms and pioneering measures to speed up high level opening up, Shen added.