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Guangzhou named among cities approved by China’s Cabinet to build international consumption center cities

BusinessGuangzhou named among cities approved by China's Cabinet to build international consumption center cities

The city of Guangzhou, located in Guangdong province, is known as a key center for trade, manufacturing, and commerce in China. Recently, plans were announced to construct an international consumer center city in Guangzhou that would be based on a consumption system with unique local characteristics. This plan is the first of its kind in China and was unveiled during the two-day Global Consumer Conference held in the city’s bustling Nansha district.

The conference brought together senior executives from over 70 countries and regions representing retailers, manufacturers, and service providers. The plan aims to optimize five world-class landmark business circles, such as Tianhe Road and Zhujiang New Town, and create two business circles featuring Guangdong characteristics (Lingnan). Additionally, industries such as automobiles, fashion, beauty, leather goods, and others will be promoted to the international market.

To achieve the goal of constructing an international consumer center city, transportation, exhibitions, cultural tourism, and consumption will be further integrated to create a diverse consumption system. Flagship and chain stores, as well as duty-free stores, will also be promoted. Moreover, targeted preferential policies for consumer brands, enterprise management, and talent introduction will be offered to introduce more high-end international consumer brands.

Guangzhou was approved by the State Council, China’s Cabinet, in 2021 to build an international consumption center city, along with Tianjin, Chongqing, Beijing, and Shanghai. In 2021, Guangzhou’s total consumption and foreign trade both exceeded 1 trillion yuan ($150 billion), making it an ideal location for such a project. In 2022, the city’s total retail sales of consumer goods increased by 1.7 percent year-on-year, demonstrating a strong development momentum.

The plan to construct an international consumer center city in Guangzhou represents a significant step towards enhancing China’s status as a leading player in the global consumer market. The integration of unique local characteristics and international standards is expected to create a dynamic and diverse consumer market, attracting high-end international consumer brands and driving the growth of Guangzhou’s economy.

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