China seeks more dynamic shopping streets to spur growth

Source: Xinhua| 2019-12-30 22:43:25|Editor: yan
Video PlayerClose

BEIJING, Dec. 30 (Xinhua) -- China's State Council on Monday decided to give more pedestrian streets facelifts to spur consumption, investment and employment after related pilot programs registered success.

An executive meeting of China's cabinet adopted measures to pursue steady progress in the renovation and upgrading of shopping streets, seeking the development of new businesses and models as well as better shopping experiences for consumers.

Red tape-cutting policies, innovation in supervision, more convenient and intelligent facilities, and stronger fusion between online and offline commerce are in the pipeline to improve the business and consumption environment in the shopping areas.

The meeting highlighted a market-oriented approach, the introduction of tailored policies and measures, and the development of small shops to create more job opportunities.

At the end of 2018, the country launched pilot upgrading programs in 11 pedestrian streets, which have since seen the refurbishment of over 800,000 square meters of commercial areas, and the introduction of more than 900 famous brands and dozens of flagship stores and first stores, according to Yin Hong, an official with the Ministry of Commerce.

During the January-November period, the 11 shopping streets saw business turnover surge 17.3 percent year on year to 115.1 billion yuan (about 16.4 billion U.S. dollars), with customer flow rising 21.2 percent to some 825 million visits.

The streets also made notable progress in integrating online and offline businesses and promoting the coordinated development of commerce, tourism and culture, Yin said.