(Yicai) July 2 -- As Shanghai accelerates its development into an international consumption center, the city is emerging, alongside New York, as a key driver of global consumption trends and an important gateway for international capital flows. The city’s central Jing’an district reflects both the strength of China’s vast consumer market and Shanghai’s transformation into a globally connected consumption destination.

“There is tremendous potential for collaboration between our two cities,” Zhang Junwei, deputy director of the West Nanjing Road -- Suhe Bay Central Activity Zone Management Committee in Shanghai’s Jing’an district, said at the launch of the third season of “Surging Forward: Global Cities in Dialogue — From Shanghai to the World” at the New York Forum on June 30.

China’s increasingly flexible and convenient visa-free travel policies have encouraged more overseas visitors to travel to the country, a trend that international media have described as the ‘China Travel Boom,’ Zhang said.

“We hope to foster more cross-sector partnerships in fashion and consumption, so that Shanghai and New York can not only share experiences, but also jointly create new urban experiences. Our goal is to turn short-term visitor traffic into long-term opportunities for brands to enter each other’s markets,” Zhang, who is also general manager of New Nanxi Group, said at a roundtable discussion entitled ‘New Forces in Consumer Spending: Opportunities for Shanghai and New York.’

Vision in Action

And Shanghai’s downtown Jing’an district is putting this vision into practice, said Zhang.

For example, the Louis Vuitton ship, also known as "The Louis," was completed in the Jing’an Central Activity Zone in just three months and attracted visitors from 106 countries within its first year of operation who made purchases in the vessel and claimed tax refunds on departing the country. The installation helped drive average daily foot traffic along the Nanjing West Road commercial district to exceed 500,000 people, while sales at surrounding businesses doubled. The project demonstrates both the enormous potential of China’s consumer market and Shanghai’s success in building an international consumer hub.

The three-story "The Louis" installation, which is located in the heart of Shanghai’s busiest shopping district, offers 1,600 square meters of space that combines art exhibitions, premium retail and light luxury dining, Zhang said. The entire project took less than three months from concept approval to completion, exemplifying the high-efficiency execution known locally as the “Jing’an Speed.”

"The Louis" landmark is not an isolated case. Jing’an launched its pioneering Global Service Provider Program in 2019 which has attracted 115 cross-border professional service providers in fields such as law, consulting, finance and human resources.

Today, the Nanjing West Road commercial district is home to more than 2,800 internationally recognized brands, and has attracted more than 1,000 first-stores in the past five years. Retail sales in the district exceeded CNY100 billion (USD15 billion) last year, making it China’s first commercial district to surpass the CNY100 billion milestone.

Another installation, the “Scruffy Puppy,” illustrates how cities and residents can co-create vibrant public spaces, Zhang said. A giant 5.2-meter-tall green-plant sculpture in the form of a West Highland White Terrier appeared in Jing’an CAZ this year. Nicknamed the “Scruffy Puppy,” the installation quickly captured public attention and sparked widespread discussion across social media with residents debating everything from its appearance and maintenance to whether it should remain on display.

During the 18-day Shanghai International Flower Show alone, the “Scruffy Puppy” generated nearly USD10 million in consumer spending, a jump of more than 50 percent from the same period last year, he added. “This taught us an important lesson, which is that successful public spaces are not created unilaterally, but are co-created with the public and the media. The concept has evolved from simply beautifying the environment to meeting people’s emotional needs,” he said.

Twin-City Ties

World Bank assessments rank Shanghai first in China for its business environment, while Jing’an takes third place among the city’s 16 districts, he said.

“New York is home to Fashion Week, Broadway, Museum Mile and many of the world’s premier urban festivals,” Zhang said. “Jing’an also has its own portfolio of signature events, including its Coffee Festival, Music Festival, Theater Festival, as well as light shows and the ESG Lifestyle Week. Through stronger connections enabled by media platforms, we hope to promote collaboration between the two cities in festival brands, product launches, public art and innovative products.”

This vision reflects Jing’an CAZ’s increasingly prominent global position. Named after the thousand-year-old old Jing’an Temple, the district is a member of the Global Business Development Innovation Club. Covering 37 square kilometers with a population of 930,000, residents of Jiang’an are estimated to have had an average life expectancy of 85 years in 2025, and a per capita gross domestic product of USD53,000.

The district is home to more than 6,100 foreign-funded enterprises, and its international economy has ranked first among Shanghai’s central urban districts for 10 consecutive years.

The story of Jing’an CAZ reflects both the strengths of China’s vast consumer market and Shanghai’s transformation into an international consumer hub. From "The Louis” installation on Nanjing West Road, to the “Scruffy Puppy” becoming a citywide social media phenomenon, to the growing concentration of global service providers, these seemingly separate developments point to a larger narrative: Shanghai is embracing the world with a greater openness than ever before.

Editor: Kim Taylor