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Xinhua News Agency, Beijing, August 18th, Title: How to activate new consumption potential and actively promote the initial public offering economy?

Xinhua News Agency reporter Wei Hongyi

The "Decision of the Central Committee of the Communist Party of China on Further Comprehensively Deepening Reforms and Promoting Chinese-style Modernization" reviewed and adopted at the Third Plenary Session of the 20th Central Committee of the Communist Party of China proposed to "actively promote the initial public offering economy."

The first-launch economy is a general term for economic activities such as companies releasing new products, launching new business forms, new models, new services, new technologies, and opening their first stores. It covers the entire chain development process of a company from the first release of a product or service, the first exhibition to the first opening of a store, the first establishment of a research and development center, and then to the establishment of a corporate headquarters.

Guan Lixin, a researcher at the Institute of Circulation and Consumption of the Ministry of Commerce Research Institute, introduced that the first-issue economy can not only gather brand resources, drive industrial upgrading, and enhance urban commercial vitality, but also better meet people's needs for a better life and promote a higher level of dynamic balance between supply and demand.

Looking across the country, the IPO economy is continuing to develop.

In 2023, Beijing, Shanghai, Guangzhou, Chengdu, Xi'an and other major cities will open hundreds to thousands of first stores. Relevant data show that Shanghai will add 1,215 first stores in 2023, a year-on-year increase of 13.2%; Beijing will add 485 first stores in the first half of 2024, including both the first brand stores and the brand's newly laid out flagship stores and innovative concept stores.