Since it announced the initiative to build an international center for consumption three years ago, Beijing has attracted top market entities globally. Till now, 26 regional headquarters of international consumer companies, including Karl Lagerfeld and Starbucks, have been accredited, accounting for 42 percent of the total in China.

In July 2021, the State Council approved Beijing and four other Chinese cities to be the first potential International Centers for Consumption. Over the past three years, Beijing has made remarkable progress in all fields, with several key indicators ranking at the top in China, including urban competitiveness, the number of Fortune Global 500 companies, the added value of the service sector, the number of departure tax refund shops, and the number of destinations for direct international and domestic flights.

Since 2019, over 3,700 first stores have opened in Beijing. Domestic brands are actively innovating and pursuing the designation of time-honored brands. There are now 259 Beijing time-honored brands, including 137 China time-honored brands with 25 newly added ones. The "Beijing Gifts" has launched over 200 series of products, many of which made their debuts at the annual sessions of the National People's Congress and the Chinese People's Political Consultative Conference, as well as the Belt and Road Forum for International Cooperation.

Beijing also moves faster to build a city of gastronomy: 11 digital catering districts including HUAXI LIVE·Wukesong, and 26 "Midnight Diner" special catering streets including SOLANA have been designated. This year, 38 restaurants in Beijing have been listed as Black Pearl restaurants, and 33 have received Michelin stars.

The scale of exhibition consumption is expanding as well. With the successful hosting of key trading platforms and exchange windows like CIFTIS, the ZGC Forum, the Financial Street Forum, and the Beijing Culture Forum, Beijing has become an important global hub showcasing international high-end elements and international exchanges.

Beijing authorities have made active efforts to host expos such as the World Robot Conference, Beijing International Automotive Exhibition, the World Radar Expo, and the First National Housekeeping Expo. With the establishment of 12 world premiere centers, including Taikoo Li Sanlitun and 751D·PARK, the level of fashion consumption has continuously been advanced. The influence of China Fashion Week, Beijing Fashion Week and Beijing International Film Festival keeps on expanding. The scale of eco-friendly consumption continues to grow, with incentives to encourage the replacement of old vehicles and consumer products with new and green alternatives. Thanks to the implementation of a subsidy policy for replacing small passenger cars with new energy ones and a green smart consumer voucher policy, the sales of new energy vehicles and energy-saving home appliances have reached nearly CNY 20 billion.

(Source: The Beijing News)