The Beijing Bureau of Commerce recently issued key measures on promoting the opening of the first stores of global brands in the city. The aim is to boost consumption and help build the capital into a world-class consumption center, said local officials. The measures include establishing a service system for the first stores, building the global brands’ debut display platform and supporting the development of commercial brand headquarters. Xue Haitao, Inspector of the Bureau, said that the measures amended the previous ones in terms of the comprehensive policy layout and financial support. For example, the measures have added support for customs clearance of new clothing products. A third-party acceptance system for new apparel products has been established to improve the speed of customs clearance for products of fashion consumer brands, on the basis of previous services such as project site selection, registration, fire inspection, billboard settings and protection of exclusive rights to registered trademarks. At the same time, support for the establishment of commercial brands is added and enterprises that carry out business activities with branches are encouraged to set up independent legal entities in Beijing. The measures also support innovative concept stores that could gain financial support of up to CNY1 million.
The maximum support for first stores and flagship stores in Beijing has been increased from CNY500,000 to CNY1 million, also increasing the amount from 20% to 50% of the total approved investment in the project. The measures enhance the maximum amount of support for well-known domestic and foreign brands to hold launch events of fashion products in Beijing from CNY1 million to CNY2 million. The maximum amount of support to the first stores of retail brands in China and Asia will remain unchanged at CNY2 million and 5 million respectively. The Bureau will guide enterprises to do the best possible job in project consultation and declaration and provide financial support to projects that meet the conditions.
Xue said in the next step, the Bureau will hold the Beijing First Launch Festival and other themed events during the Beijing consumption season to promote first stores and the launch of new products. “I hope that the majority of brand enterprises and key business districts will participate, make full use of the support policies, optimize new consumption supply, tap new consumption highlights, stimulate new consumption potential and jointly help to build Beijing into an international consumption city.” Since March 2019, the Bureau has introduced two versions of the measures on first stores to boost the regional economy. Statistics show that in the past three years, a total of 1,962 first stores and flagship stores have been opened in Beijing, the China Daily reports.
