Beijing launches incentive measures to provide subsidies of up to 5 million yuan for the first store in Asia. Retail enterprises can provide up to 50% of the actual total investment approved according to the project.
In 2024, Beijing will intensify its efforts to develop first store launch economy and strive to add about 800 new first stores throughout the year. (over) 1 million will be provided for new product launches for fashion consumer products such as watches, bags, gold and silver jewelry, and a maximum of RMB 1 million for other consumer brands.