Beijing set to woo more global brands

Beijing will further enhance its services to attract more international brands in debuting their products and innovating diverse scenarios, in a bid to build itself into an international shopping hub, said an official with the Beijing Municipal Commerce Bureau.

"These initiatives aim to implement the requirements issued by the Ministry of Finance and the Ministry of Commerce late September regarding pilot projects for new shopping businesses patterns, scenarios and building an internationalized environment for consumers," said Lu Huiling, deputy director of the Beijing Municipal Commerce Bureau, in a recent news conference.

"Beijing will support the establishment of flagship store clusters, and aid them to host product debut events and exhibitions," Lu said.

The city will also actively support the creation of diverse scenarios, and focus on activities that integrate with commercial districts, neighborhoods and tourist spots, the official noted.

Data from the bureau indicate that Beijing has attracted over 5,000 flagship stores and cultivated 12 outlets dedicated to the premier products of leading brands, including Taikoo Li Sanlitun, from 2019 to present.

The city has continuously improved its digital ecosystem, and 35 city-level livestream e-commerce platforms have taken shape.

Among the top 100 MCN (Multi-Channel Network) agencies nationwide, 24 are based in Beijing, the highest number in the country, according to the bureau.

In addition, the city boasts nearly 1,600 tax refund stores for overseas tourists, with 24 offering instant refunds.

Over 2,800 bank branches and 11,200 ATMs provide convenient renminbi exchange services for foreign visitors in Beijing.

Lu also mentioned that Beijing will enhance cross-industry collaborations with renowned IPs, supporting the cultivation and transformation of IPs, and opening more IP-themed, concept and co-branded stores.

For instance, Pop Land, which opened in September 2023, is set for a significant upgrade next year, said Wang Tao, general manager of public affairs at Beijing Pop Mart International Group, during a recent forum organized by Beijing Daily.

The new scenarios are expected to more closely connect with IPs, making the architecture and setting extensions of the IP stories, aiming to inject sustained vitality into urban tourism in Beijing, Wang said.

In addition, Beijing plans to further enrich high-quality offerings for consumers and support inbound-friendly commercial clusters, Lu noted.

Efforts to optimize foreign-related payment services will include supporting the addition of foreign card POS machines, innovating foreign-related payment services and facilitating foreign currency exchanges.