New stimulus measures to boost Shanghai's debut economy

Shanghai is bolstering its status as a debut stage for new products, leading performances and sports events as part of its initiative to establish itself as a global consumption hub.

A new set of stimulus measures are unveiled on Sunday for leading domestic and foreign brands to build physical presence and stage influential events to boost leisure spending.

More than two dozen product launch events, performances and sports activities will be staged in the next three months.

Minister of Commerce Wang Wentao said at the opening ceremony that Shanghai will play an exemplary role in further boosting the debut economy. It also encourages the integration of new product launches with sports, tourism, and leisure events to further unleash physical goods and lifestyle consumption.

According to the latest incentive guideline released by Shanghai vice mayor Hua Yuan, Asian debut stores or worldwide debut stores will receive a one-off 1 million yuan (US$138,889) subsidy, as well as for events and performances.

For events and brand launches held during the debut season between March and May each year, an addition of 200,000 yuan of subsidy will be offered.

The event application process will also be streamlined and fast-track process for imported beauty products that are for showcase purposes.

These measures are expected to further elevate the quality of Shanghai's debut economy, attracting more enterprises and brands to establish in the city.

Shanghai has launched a slew of measures to promote the high-quality development of the "debut economy", as part of its initiative to establish itself as a global consumption hub.

Last year, nearly 3,000 product launches, performances and events were presented in the city and the number of debut stores jumped 28 percent to 1,269, according to Shanghai Mayor Gong Zheng.

The colorful season of spring is a prime time for new product offerings and exciting events in the city.

Beauty giant L'Oréal's first professional hair dryer AirLight Pro Infrared Hairdryer will be unveiled in the city following its debut at the China International Import Expo (CIIE) last year.

A professional hairstyle fashion show will also be staged by L'Oréal Pro bringing together top stylists in Shanghai.

It will be hard for sports lovers to decide which activities to choose from during the period leading up to the Chinese Grand Prix to be held in the city later this month.

Runners will also witness the launch of adidas' flagship professional running shoe ADIZERO ADIOS PRO 4 at the West Bund Dome Art Center with a series of outdoor running events, and drone shows along the riverside in Xuhui District.

The Checkered Flag Carnival 2025 will blend racing culture, entertainment, arts, music and lifestyle for both motorsports enthusiasts and the general public.

Loro Piana will hold its first brand exhibition at the iconic Pudong Art Museum, marking the Italian luxury brand's debut large-scale exhibition.

For cartoon lovers, be prepared for the cuteness and the magic of Doraemon and his friends at the highly anticipated "100% Doraemon & Friends" Tour in Shanghai, the first stop on its Chinese mainland journey, which will be held later this month through May.