The tax-free shop in downtown Shanghai operated by China National Service Corporation is an example of the efforts that local enterprises are making during the May 5 Shopping Festival to unlock the potential of domestic consumers at a time of record low economic growth.

In 2019, there were 986 new stores in Shanghai, an increase of 151 over 2018, with an average increase of 2.7 stores per day. More than 4,500 international and domestic brands held the national launch in Shanghai, ranking first in China.

Additionally, a 30,000-square-meter duty free store and renowned restaurants are expected to open in the Lin-gang Special Area soon, according to the latest update from the area's administration.

The administration said that plans to develop another 600,000-sq m commercial area are underway, with the space slated for completion in three years. Up to 100,000 sq m of this space will be built by the end of this year.

Hua Yuan, director of the Shanghai Commission of Commerce, said that openness is the city’s biggest advantage, and Shanghai has a unique ability to develop a "first store economy". Shanghai is now the first choice for international brands to settle in this city.