Shanghai held a signing ceremony for major domestic and foreign-funded industrial projects recently. Among them, 69 foreign-funded projects showed the confidence of the foreign-funded retail industry in accelerating expansion of the Shanghai market.

According to officials of the Shanghai Commission of Commerce, the current consumption structure in China is constantly being upgraded. People's consumption follows the trends of individuation, diversification and customization, and the retail industry is developing toward paying more attention to difference, convenience and experience.

Foreign retailers are rushing to embrace new retail modes in China, hoping to transform from "immigrants" to "aborigines".

Sam's Club, the high-end membership store of world retailing giant Walmart, launched a "one-hour fast delivery" service in China which led to a massive  increase in online orders during the epidemic period. It also plans to open its flagship store in Shanghai.

Japanese convenience store chain Lawson (China) Holdings also expanded its marketing channels to meet the actual needs of customers in China. "Now consumers can order Lawson products through an app," said Motonobu Miyake, CEO of Lawson (China). "The proportion of takeaways has greatly increased during the outbreak, which is a great spur for us to further expand online sales in the future."