China's push to develop international consumption centers gains traction

Transcript

00:00It's been four years since China designated Shanghai, Beijing, Guangzhou, Tianjin, and

00:12Chongqing as pilot cities for developing international consumption centres.

00:16He Yadong, spokesperson for China's Ministry of Commerce, said at Thursday's press conference

00:22that the initiative has yielded positive outcomes.

00:24The total retail sales of consumer goods in the five cities account for more than one-eighth

00:32of the country's total, the number of national demonstration pedestrian streets accounts

00:36for one-quarter, the number of Chinese time-honored brands accounts for about one-third.

00:41The proportion of imported consumer goods exceeds half of the country's total, and the sales

00:47volume of outbound tax refunds account for about 70 percent.

00:51Since April this year, the total number of tax refund stores in Beijing and Shanghai both

00:57exceeded 1,400, with Guangzhou surpassing 500, driving a 94.6 percent increase in the sales

01:05of outbound tax refunds nationwide in the first half of the year.

01:10China's shopping has become a hot topic as well.

01:14China's special nuggets has been – because of to ensure the world's average of 20

01:14months of the year to beuter

01:28.

01:32They are trying to settle the Quinnipade