Shanghai seeks to become global hub for 'firsts'

The Shanghai government on Sunday announced a series of measures and activities aimed at promoting the high-quality development of what it calls the "debut economy", as the East China metropolis works to become a global consumption hub, according to official sources.

The latest policy package seeks to optimize the business environment in the city and encourage the introduction of more "first" stores, debut products, shows and exhibitions.

According to Commerce Minister Wang Wentao, a series of "first "events is set to take place in Shanghai and other cities aiming to unleash market potential and promote the integration of domestic and international trade.