In 2021, a total of 901 "first stores" were opened in Beijing, almost five times the amount of last year, according to data released yesterday by the Beijing Municipal Commerce Bureau.

Among them, as many as 205 "first stores" were added in the fourth quarter, and the number of new "first stores" in a single quarter continued to increase significantly.

Since Beijing rolled out its ambitious plan to transform the capital into an international consumption center in January, the city has been renovating its shopping malls, developing a "first-store" economy and introducing business outlets that offer residents more convenience. More specifically, however, the city's "first-store" economy has become a new driver of local consumption.

The so-called "first-store economy" is a type of real economy measured by the launch of leading industrial and fashion brands that open their "first store" in specific areas. The definition also includes the launch of traditional brands' flagship or experiential stores that operate under an innovative model.

Among the 901 "first stores," three are the first in the world, seven are the first in Asia, 59 are the first in China and 832 are the first in Beijing. This includes many international brands, such as Italian sportswear brand FILA, the Manchester United Theater of Dreams, French jewelers SATELLITE PARIS, and German optical tech giant Leica, to name a few.

Also, China's local brands are developing fast. Among all the "first stores" opened in Beijing, 767 are domestic brands, accounting for 85%. The 134 international brands that opened their first stores in Beijing this year come from 23 countries and regions, including 29 American brands, 21 Italian brands, 18 French and 18 Japanese brands.

In terms of services provided, "first stores" in the catering industry rank first, with a total of 468, accounting for 52%. There are 276 "first stores" in the retail industry. And there are 75, 52, and 24 "first stores" that deal in leisure and entertainment, personal care and services, and children-related business respectively.

The development of the "first store economy" has further fueled Beijing's competitive edge in attracting international high-quality consumer resources. In 2021, Beijing has optimized its "first store" support policies and streamlined procedures for companies who want to open their "first store." It is expected that more than 3,000 "first stores" representing domestic and foreign brands will open in Beijing by 2025.