Beijing will launch the 2023 consumption season at the end of this month, encouraging market entities to carry out pro-consumption activities and stimulating the market, in a bid to achieve this year's consumption growth target.

Despite the impact of the epidemic on the consumer market, Beijing has maintained an overall consumption growth over the past three years, with service consumption accounting for over 55% of the total and sales of enterprises above the designated size making up for more than 70%. 

Beijing also saw remarkable progress in its effort to become an international consumption center, registering a total of 217 multinational company headquarters in the city. Online retail sales accounted for 39.8% of total retail sales of consumer goods, hitting a record high. Beijing is also home to 2,774 "first stores" of popular brands. The number of the city's time-honored brands has increased to 223, and nearly 60 new consumer brands have been incubated in six incubation bases. More than 110,000 community commercial outlets in the city provide convenient service for citizens.

This year, Beijing plans to accelerate the construction of a four-level commercial consumption structure consisting of an international consumption experience zone, an urban consumption center, a regional dynamic consumption circle, and a community life circle. The city will also renovate and upgrade key business districts such as Chongwenmen and Chaoqing, and strive to attract around 800 additional "first stores" of domestic and foreign brands, according to Ding Yong, director of the Beijing Municipal Commerce Bureau.

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