(The 4th CIIE) Inventory of new trends in China's consumption: national tide, digitalization, and urban leadership

  China News Service, Shanghai, November 6 (Reporter Zheng Yingying) "Generations of young people have become a new consumer group. They love national culture and national culture. They have strong self-confidence and hope to choose domestic products and national trends. Commodities." said Qu Fang, the founder of Xiaohongshu.

  At the 4th CIIE, a special sub-forum was set up to discuss the theme of "New Consumption Trends under the New Dual-Circulation Development Pattern".

In Qu Fang's view, this generation of domestic brands has been both a Chinese brand and a global brand since its birth. Although they have been labeled as "national products" and "national tide", they have the world's "brands" since their birth. Vision", they serve the new needs of this generation of consumers-not only Chinese consumers, but also consumers all over the world.

  Wang Wei, director of the Market Economy Research Institute of the Development Research Center of the State Council, believes that China is the world's largest consumer goods manufacturer, and many domestic brands have also emerged.

Especially in recent years, with the development of e-commerce, many new domestic products in China have been welcomed by Chinese young people, as well as by many consumers around the world.

She said that with the help of cross-border e-commerce and platforms such as the China International Import Expo, Chinese brands may go to the world and become one of the world's leading indicators.

  On the other hand, Wang Wei said, we still have to emphasize internationalization, because China's current consumption upgrade and innovation also need the support of global consumption resources, and many international brands are also leading China's consumption.

  China is cultivating an international consumption center city.

China’s "14th Five-Year Plan" has a clear outline to promote consumption in an all-round way and cultivate and build an international consumption center city.

Approved by the State Council, Shanghai, Beijing, Guangzhou, Tianjin, and Chongqing took the lead in developing international consumption center cities.

  "According to our research on domestic and international situations, China can also build an international consumption center city like New York, Paris, London and other international metropolises in the process of moving towards a high-income development stage." Wang Wei said .

She said that from an international perspective, these international consumption centers themselves are important markets for agglomeration and large-scale consumption, and at the same time, they can promote consumption upgrades in a larger area and a wider area.

  Digitization has also become a major new trend in China's consumption.

Wang Wei pointed out that in recent years, many new consumers in China have been able to form a large market because of the digital economy. "Relying on these digital platforms, we can also efficiently integrate the supply chain and provide precise products."

  "Digital running is faster than humans in any way," said Yang Jirui, president of the (China) Consumer Economics Association.

He believes that the explosive growth of digital consumption this year is closely related to the new exploration of consumption in the context of the epidemic.

(over)

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