China announces five leading cities in developing int’l consumption centers

China’s Ministry of Commerce (MOC) announced on Monday that, with the approval of the State Council, Shanghai, Beijing, Guangzhou, Tianjin and Chongqing will take the lead in developing international consumption center cities. 

The move is a major strategic decision made by the Communist Party of China Central Committee and the State Council, and will play a significant role in serving the establishment of the new development paradigm, Commerce Minister Wang Wentao said at a meeting.

It is also significant for the country’s high-quality growth, he noted.

Efforts will be made to pool quality international market entities, goods and services, as well as to accelerate the cultivation of local brands,…

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