Shanghai has announced a series of measures to further stimulate consumption.

The new measures will promote and expand consumption through the integrated development of the commerce, tourism, culture, and sports sectors, according to a document jointly released on April 26 by eight departments, including the Shanghai Municipal Commission of Commerce, Shanghai Municipal Administration of Culture and Tourism, and Shanghai Administration of Sports.

The measures seek to deepen the integration of commerce, tourism, culture, and sports to provide consumers with a wider array of high-quality products and services and diverse consumption experiences. The goal is to harness the power of consumer spending as a driver for social and economic development, thereby bolstering sustained high-quality growth.

Leveraging the significant influence of exhibitions, cultural and artistic events, tourism, and sports, these measures aim to attract internationally renowned and top-tier domestic performances, exhibitions, and sports competitions to Shanghai.

Organizers introducing internationally renowned or top-tier domestic large-scale concerts or music festivals, sponsoring cultural performances, or hosting cultural and art exhibitions or major sports events with significant ticket sales will receive financial support and rewards based on cumulative ticket sales and foreign audience proportions, according to the document.

Additionally, the city will support cruise liner companies to take advantage of the Shanghai Wusongkou International Cruise Terminal to establish international routes and operational entities, the document says.

Incentives will be given to travel agencies leveraging the 144-hour visa-free policy to launch various itineraries and themed transit tourism products.

The measures also include support for online tourism platforms to engage in consumption promotional activities targeting domestic and international markets. Financial rewards will be given to those meeting the criteria stipulated in the document.

Furthermore, the city will encourage event organizers and market entities to jointly organize commercial marketing, catering, and leisure activities during large-scale thematic events, the document says.

Foreign payment services will be enhanced to expand merchant acceptance for foreign bank cards in key consumption areas and support for tax refund shops in purchasing equipment related to tax refund services, it adds.

Market entities will be encouraged to build or upgrade multi-language service facilities to assist foreign tourists.

Measures will also be taken to streamline entry processes and establish one-stop services in the arrival areas of airports to provide comprehensive convenient services for inbound travelers, according to the document.

The measures will take effect on May 1, 2024 and will be effective until Dec 31, 2025.

Source: shanghai.gov.cn