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Shanghai plans to upgrade key shopping areas, make spending easier for overseas visitors and develop new consumer services, Mayor Zhu Zhongming said on October 11.
Zhu outlined the priorities at a press conference after the 38th meeting of the International Business Leaders' Advisory Council for the Mayor of Shanghai, or IBLAC. This year's meeting focused on innovation in the service sector.
The plans form part of Shanghai's efforts to build an international consumption center during China's 15th Five-Year Plan period from 2026-2030.
Zhu said Shanghai will develop more services that combine culture, shopping, tourism, sports and exhibitions. He identified health management and smart companionship as new areas for growth as consumers seek more choices and services tailored to their needs.
The city will also update policies to support product launches and attract new brands. It plans to make spending more convenient for overseas visitors.
Retail upgrades will include Nanjing Road E. and Huaihai Road M., two of Shanghai's main shopping streets.
The city will improve links between the major shopping districts and nearby side streets to support leisure businesses and nighttime spending. It also plans to develop commercial areas specializing in jewelry, fashion and technology products.
Zhu said Shanghai will use the 9th China International Import Expo, which opens next month, to bring more goods into the Chinese market.
The mayor added that Shanghai will turn the council's recommendations into measures to expand and improve its service sector.
The IBLAC named Siemens CEO Roland Busch and Merlin Swire, chief executive of John Swire & Sons, as vice chairs.
Rob Speyer, the council's chairman and chief executive officer of US property company Tishman Speyer, said the shift from buying products to seeking experiences stood out in the discussions.
Although artificial intelligence featured in much of the meeting, he saw opportunities in Shanghai's history and culture.
He cited a council member's proposal to create more access points to the Huangpu River so people could enjoy the skyline from the water.
Speyer also praised Shanghai's willingness to seek advice despite its progress.
"You are one of the greatest cities in the world by any and every measure," he observed.
He said the city's willingness to ask how it could improve would continue to serve it well. Speyer urged Shanghai to keep attracting talent from around the world, saying that talent brings capital and ideas.
Founded in 1989, the IBLAC now has 42 members from 15 countries. Its next meeting will take place in the city on October 10, 2027, focusing on innovation and cooperation between Shanghai and global businesses in the age of AI.
Source: City News Service
