Four iconic venues in Changning are now major sites of the city’s push for “debut economy 2.0,” the First in Shanghai initiatives.

The C•PARK Haisu Culture Plaza, Columbia Circle, Wuyi丨MIX 320, and the Yuyuan art and life block are now among the 25 Global New Product Debut Landmarks in Shanghai.

Shanghai is to become a debut stage for new fashion and cosmetic products worldwide as another Shanghai global promotion season begins.

As part of the Shanghai Double Five Shopping Festival, “FIRST in Shanghai” promotes Shanghai as the world’s fashion capital, demonstrating to the world its potential and ability as a city capable of hosting important international fashion events.

The Shanghai Commission of Commerce has released “Several Measures on Further Promoting the High-Quality Development of the Premiere Economy,” together with seven initiatives to promote high-quality development of the premiere economy.

According to the initiatives, the “FIRST in Shanghai” series of activities, scheduled from March to May each year, should focus on organizing a bunch of new products promoting activities.

It will support leading domestic and foreign brands to open their first stores in Shanghai, with a bonus of 1 million yuan (US$138,000) for the first stores in Asia.

Shanghai will also optimize the management of premiere events, provide customs clearance measures for imported premiere products, and support the bonded display and international trading industry.

From May 2018 to December 2023, more than 4,500 international and domestic brands have held debut events in Shanghai, introducing 5,840 first stores (a daily average of 2.8), with more than 80 first stores above the Asian level, ranking first in the country in terms of quantity and quality, according to official statistics.

Currently, Shanghai ranks second among global cities in terms of global retailer concentration, with 98 percent coverage of first-tier international brands.

Edited by Shanghai Daily