As the primary event of the fifth Shanghai Shopping Festival, the 2024 Shanghai Global New Products Debut Season kicked off on April 25, it continues to promote the "debut economy", becoming the key to building the "First in Shanghai" brand and the city as a global consumption hub.

The 2024 Shanghai Global New Products Debut Season adopts a "1+7+N" mode, which includes one launch ceremony, seven districts for flagship activities, and many brand-themed events such as fashion shows, promotions, and pop-up stores.

Under the guidance of the Shanghai Municipal Commission of Commerce, jointly released by the Shanghai Institute of Quality and Standardization for four consecutive years, Shanghai's "debut economy activity index" measures the level and characteristics of the city's "debut economy" development from three dimensions — competitiveness, growth, and influence.

Unveiled at the launch ceremony, Shanghai’s "debut economy activity index" is at 88.2 in 2023, an increase of 0.5 percent compared to 2022, with improvement in all three dimensions.

In addition, a total of 1,215 first stores of various levels were opened across Shanghai throughout 2023, an annual increase of 13.2 percent. Among them, there were 11 first stores across Asia or beyond. The scale and quality of first stores continue to lead in Chinese cities.

Each district of Shanghai continues to develop a series of supportive policies around new product development and launches and first store settlements, focusing on industrial advantages and regional characteristics to enhance the influence of the "First in Shanghai" brand.

Source: Shanghai Municipal Commission of Commerce