Shanghai must compare favorably to the world's best cities if it expects to become a shopper's paradise like New York City, London and Tokyo, according to the city's most senior official.The eastern Chinese metropolis will release a top-down development plan this year to create a world-class international hub for shopping, Li Qiang, Party secretary of Shanghai, said this week.Making 'Shop in Shanghai'a golden brand is part of the ongoing effort to open up further and undertake continual reform in the new era, Li said during a panel discussion of the Shanghai delegation to the ongoing session of the National People's Congress.Shanghai's mission is to represent China in international collaboration and competition, so it must be comparable to the world's best cities and have the highest standards, he said, adding that shopping is in the city's genes.More than 54 percent of global retailers have branches in Shanghai, making it third in the world behind only London and Dubai, according to CBRE Group, a commercial real estate and investment firm based in Los Angeles.More than 90 percent of renowned high-end brands have a presence in Shanghai, with many using the city as their China or Asia-Pacific headquarters.There is hardly an internationally known brand that cannot be found in one of our shopping malls, said Shang Yuying, director of the municipal Commission of Commerce. Yet, she said, Shanghai still trails other major cities.A report released by Master-Card in September ranked Shanghai 19th in the world for overseas visitors who stayed for at least one night in 2016 - 6.12 million - far behind New York City, London, Paris and Tokyo.The city should strive to create world-class shopping districts, an essential element for an international shopping hub, Shang said.Nanjing Road and Huaihai Road (in Shanghai's Huangpu district) are popular, but they can't compare with the likes of the Champs-Elysees in Paris or New York's Fifth Avenue in terms of global recognition, she said.Gao Yun, Huangpu's Party secretary and an NPC deputy, said the two shopping areas will get a face-lift this year to make them more attractive to visitors.Shang added that Shanghai should also protect and promote its traditional brands through innovation and global business strategies.? cool rubber braceletsrubber band holder braceletsilicone bracelets canadaafrican rubber braceletsgreen rubber bracelet meaning
The Canton Tower stands in Guangzhou, Guangdong province, on April 17, 2018. [Photo/VCG] BEIJING - An innovation index has been published to track the performance of companies based in the Guangdong-Hong Kong-Macao Greater Bay Area. The index, which was released by Shenzhen Securities Information Co., Ltd. and the China Center for Information Industry Development Tuesday, is based on 100 stocks covering advanced manufacturing, strategic emerging industries, modern services and maritime economy. The innovation index, including shares of industry giants such as Tencent, Ping An, Gree and Midea, is the flagship of a series of indexes for the Greater Bay Area to be developed by the two parties. It contains 38 information technology enterprises that account for over 25 percent of weighting. A composite index for the area was also launched at the same event Tuesday. All the indexes are based on equities listed at the Shenzhen, Shanghai and Hong Kong exchanges that are eligible for the Stock Connect programs. The Stock Connect are securities trading and clearing arrangements that link China's mainland stock exchanges to that of Hong Kong. The programs allow mainland investors to trade and settle shares in the Hong Kong market via their local exchanges, and vice-versa. The Greater Bay Area has a highly developed capital market. By the end of March, it had more than 750 companies that were listed on Chinese mainland and eligible under the Stock Connect programs with a total market capitalization of nearly 27 trillion yuan (about $4 trillion). The index series would play an important role in developing the area into an international science and innovation center and enhancing the financial sector's service to the real economy, said an official with the Shenzhen Stock Exchange.
