Hua Yuan, vice-mayor of Shanghai, announces the policy measures for stimulating consumption during the launch ceremony of the International Consumption Season and the fifth Shanghai Shopping Festival on April 27. [Photo/chinadaily.com.cn]

Shanghai kicked off the city's fifth edition of the Shanghai Shopping Festival at the Grand Halls in Shanghai's North Bund area on April 27.

During the event, which coincided with the nationwide International Consumption Season, Shanghai is centered on the convergence of commerce, tourism, culture, sports, and exhibitions. The city has launched a comprehensive plan that encompasses support for cultural events, sports activities, exhibition projects, and tourism products, while also aiming to optimize the overall consumption environment. This initiative encourages collaborative promotional activities and streamlines approval processes to enrich the city's consumption landscape.

At the same time, Shanghai also unveiled policies enhancing payment easeand facilitating trade-ins for consumer goods.

The city's drive to improve payment convenience includes 15 measures across six key areas. Notably, the plan involves a substantial increase in the installation of POS machines that accept foreign bank cards, with the number set to rise from 45,000 to 80,000 this year. Additionally, the city plans to establish 319 foreign currency exchange points and self-service machines.

Efforts to streamline mobile payment services involve optimizing user interfaces, adjusting payment limits, and tailoring services for the elderly. The plan also includes the establishment of comprehensive service centers for foreign visitors at the Pudong and Hongqiao international airports.

Furthermore, the city has introduced a special action plan for trading in used goods for new ones, featuring 21 measures across five sectors. This includes promoting the exchange of old cars and household appliances, supporting the renewal of home decoration goods, and enhancing security measures.

At the launch ceremony, various enterprises presented their plans to bolster consumption. For instance, Bailian Group announced the issuance of 550,000 100-yuan ($13.8) consumer vouchers, available for residents to claim on its online platforms. Additionally, Ele.me's senior vice-president, Wang Jingfeng revealed the platform's collaboration with thousands of merchants, launching eight major events and distributing 5.5 billion yuan in consumer coupons.

The fifth edition of the Shanghai Shopping Festival kicks off on April 27. [Photo/Wenhui Daily]

Source: Wenhui Daily