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On March 29, a new consumption brands incubation base was officially inaugurated in the Hongqiao Market of Dongcheng District, Beijing. This marks a new stage of real operations for the incubation of new consumption brands.

Relying on the original platform function for commercial business and international exchanges, Hongqiao Market will guide the development of traditional industries for pearls, jewelry, artware, and intangible cultural and creative products while attracting more people through high-quality design, scene experience, and new consumption channels. These measures will enable traditional industrial chains to seize new opportunities and generate renewed dynamism under new modes of consumption.

Moving ahead, according to Yang Kun, Vice District Mayor of Doncheng District, Dongcheng District will continue to promote the integration of new consumption brands incubation with urban renewal, upgrading of traditional commercial spaces and the capital market, so as to help new consumption brands develop in a broader space. In addition, it will create a more favorable environment for consumption growth by continuing to improve policy support in key sectors that may restrict brand development, such as financing of micro and small-sized businesses and intellectual property rights protection.

(Note: Content source is from The Beijing News.)