Shenzhen plans to build more than 10 shopping areas with distinct characteristics and night economy demonstration blocks in five years, according to a slew of measures unveiled recently by the city’s commerce bureau to facilitate building Shenzhen into an international consumption central city.

The municipal finance bureau will give a maximum 10-million-yuan (US$1.5-million) reward to projects that meet acceptance standards.

In line with the Central Government’s decision to boost the country’s domestic consumption, Shenzhen aims to step up its efforts to build a consumption center that is globally influential, competitive and reputable. The measures also note that the city will promote the high-quality development of commerce and consumption.

Shenzhen’s total retail sales of consumer goods reached 949.81 billion yuan last year, up by 9.6 percent year on year. With the new measures in place, this figure is expected to go over the 1-trillion-yuan mark this year, according to the commerce bureau.

The measures highlight the construction of first-class international business areas, including Futian CBD Business Area, Nanshan District’s Houhai Super Business Area and Luohu Core Business Area. These areas will boast preferred international consumption destinations and city landmarks.

Futian’s Huaqiangbei Pedestrian Street and Xiangmihu International High-end Shopping Area, Nanshan’s Shenzhen Super Headquarters Core Business Area and Qianhai Mawan Business Area, Longhua’s Dalang Fashion Town and Longhua Core Business Area, as well as Yantian’s Shatoujiao Shenzhen-Hong Kong International Tourism Consumption Cooperation Zone have been included in the high-standard construction list.

Upgrade projects at Luohu’s Dongmen Pedestrian Street and Yantian’s Zhongying Street will be expedited.

Shenzhen will build itself into a global new retail development pinnacle by fostering digitalization of consumption scenarios and subsidizing digitalization projections up to 3 million yuan. By 2025, the city will boast over five new retail demonstration enterprises with revenues of over 10 billion yuan.

A 144-hour visa-free transit policy will still be effective for foreign visitors from certain countries and the round-the-clock operation mode is expected to be implemented at more checkpoints citywide as part of the city’s efforts to further establish an international transportation network.

The consumption promotion measures also include launching various shopping activities, building international blocks and a smart city, as well as strengthening cooperation with other cities in the Guangdong-Hong Kong-Macao Greater Bay Area in developing smart retail.