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China launches retail development pilot program

China’s Ministry of Finance and Ministry of Commerce have launched a program to support around 15 pilot cities in developing internationalized consumer environments, including major international consumption centers such as Shanghai and Guangzhou. Under the plan, central subsidies will provide 200 million RMB ($27.6 million) to each international consumption center city and 100 million RMB ($13.8 million) to other selected cities. Funding will be released in two phases. The initiative focuses on expanding high-quality consumption, upgrading commercial districts, and fostering integrated shopping, cultural, and tourism experiences. It also calls for developing globally competitive local brands, expanding tax-refund services, and improving payment options for foreign visitors.

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