(Yicai Global) April 27 -- Shanghai will launch its annual Double Five Shopping Festival as part of efforts to promote consumption, the deputy director of the city’s commerce commission said.

This year's event will include launching ceremonies and achievement demonstration shows, as well as 12 themed consumption areas, including nightlife, tourism, imported goods, coffee culture, food, jewelry, and sport, Liu Min said at a press conference today. All 16 of the city’s districts will also hold their own themed activities.

The fourth Shanghai Double Five Shopping Festival, started by the municipal government in May 2020, starts on April 29.

The city will combine Made in Shanghai and Shop in Shanghai to deepen supply-side innovation and create new consumption scenarios, according to Ruan Li, deputy director of the city’s economy and informatization commission.

For example, the Shanghai Information Consumption Festival, which will be held from May 17 to June 16, will highlight the metaverse, the digital economy and artificial intelligence generated content. It will also have activities such as debuts for new products, industry seminars, and metaverse interactive experiences. It aims to promote digital information consumption in technology, industry and finance.

The festival is intended to drive an increase in information consumption to exceed CNY40 billion (USD5.8 billion).

This year's Double Five Shopping Festival came up with the concept of an urban consumption expo for the first time, which will use Shanghai's neighborhoods, cultural landmarks, parks, and rural spaces as exhibition venues for cultural displays, brand pop-ups, and other activities.

According to data from Shanghai’s statistics bureau, the city’s total retail sales of consumer goods in the first quarter rose 5.2 percent from last year to CNY461.101 billion (USD66.6 billion).

Editor: Tom Litting