{"id":13990,"date":"2024-04-24T06:30:46","date_gmt":"2024-04-24T06:30:46","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=13990"},"modified":"2024-04-23T16:55:41","modified_gmt":"2024-04-23T16:55:41","slug":"shanghai-one-million-offer-supreme-loewe","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/shanghai-one-million-offer-supreme-loewe\/","title":{"rendered":"Shanghai is giving brands CNY 1 million to open their first store in the city"},"content":{"rendered":"

In a bid to strengthen its consumer economy and boost its global influence, Shanghai is offering brands that open their first store in Asia (or indeed the world) in Shanghai a one-time reward of RMB 1 million (about \u00a3111,000).<\/p>\n

High-quality product launches and debut exhibitions held in the city will also have access to subsidies of up to RMB 1.2 million.<\/p>\n

\"launchpad<\/a><\/p>\n

The incentive is part of the \u201cFirst in Shanghai\u201d campaign, which also includes provisions to optimise the application and approval process for permits for launch events, and ease customs clearance requirements for imported products to be used in those events (e.g. displays, samples, etc.).<\/p>\n

While the incentive is unlikely to be significant enough to tempt major international brands (which most likely already have a store in Shanghai anyway), it could prove useful for SMEs or brands looking to test the waters in the Chinese market.<\/p>\n