Shanghai gearing up for consumption bonanza

A new wave of consumption activities involving debut economy, consumption upgrade, innovative digital spending as well as the integration of culture, tourism, sports and exhibitions are being held in Shanghai from the end of April through June — a fresh move to further consolidate the economic hub's position as a leading international consumption center, according to official sources.

More than 100 specialized activities are being held throughout this year's Double Five Shopping Festival period in Shanghai, which comprises the launch ceremony, 21 city-level key activities, as well as themed activities organized by the city's 16 districts, said organizers of the 2026 "Shopping in China" International Consumption Season (Shanghai) and the seventh Shanghai Double Five Shopping Festival, which opened on April 30.

The annual landmark event promises to present abundant supplies of high-quality products and extensive promotions in a wide spectrum of sectors, which is expected to underpin Shanghai's efforts to become an international consumption center.

China's five international consumption center cities — Shanghai, Beijing, Tianjin, Chongqing and Guangzhou, Guangdong province — reported 6.2 trillion yuan ($907.83 billion) in 2025 retail sales of consumer goods, and their revenue from departure tax refunds surged 86 percent year-on-year, becoming key drivers of domestic spending, said Minister of Commerce Wang Wentao during a recent forum in Shanghai.

"As major consumption hubs, the five cities are playing a greater role in boosting consumption and expanding international influence. They have become important windows for China's opening-up and key platforms for meeting people's growing demand for a better life," said Wang, adding that China's total retail sales of consumer goods rose 2.4 percent in the first quarter from a year earlier, while service retail sales increased 5.5 percent year-on-year, both demonstrating the resilience and vitality of China's supersized market.

"In Shanghai, total retail sales of consumer goods rose 4.6 percent year-on-year to reach 1.66 trillion yuan in 2025, and that of the first quarter registered a steady growth of 5.5 percent," said Gong Zheng, mayor of Shanghai.

"Inbound consumption is among the most vibrant consumption sectors. As many as 9.36 million passenger trips were made by inbound tourists throughout last year, growing nearly 40 percent year-on-year. These tourists contributed over 100 billion yuan to the city's consumption, a growth of 35 percent year-on-year," Gong said.

Currently, Shanghai is accelerating its push to become a premier global consumer destination through service innovation, product expansion and service upgrades, the mayor said.

To better meet inbound travelers' needs, diversified offerings and greater service convenience will be provided. More than 8,000 stores at various levels have opened across Shanghai over the years. In the future, the city is determined to introduce more top-tier international sporting events, performances and exhibitions, Gong added.

"Among the 21 city-level flagship events of the seventh Double Five Shopping Festival, the most distinctive features include the 2026 Shanghai Table Tennis Carnival in business districts, Global Taste in Shanghai and the Shanghai International Coffee Culture Festival," said Lu Shan, vice-mayor of the city.

"Shanghai, home to 10,336 coffee shops as of the end of 2025, has the largest number of cafes of any city in the world," Lu said.