Global Markets

China is developing five international consumption center cities

China’s Ministry of Commerce (MOC) announced on Monday that with the approval of the State Council, Shanghai, Beijing, Guangzhou, Tianjin and Chongqing will take the lead in developing international consumption center cities.

The move is a major strategic decision made by the Communist Party of China Central Committee and the State Council, and will play a significant role in serving the establishment of a new development paradigm, Commerce Minister Wang Wentao said at a meeting.

Efforts will be made to pool quality international market entities, goods and services as well as accelerate the cultivation of local brands, Wang said.

The MOC will work with other related departments to unveil a general plan on building the international consumption center cities and the five cities will formulate their implementation plans to advance the construction tasks, according to Wang

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