SHENZHEN, China, July 25, 2023 /PRNewswire/ -- Sam's Club, Walmart's high-end membership warehouse club, opened its flagship store in Qianhai last month. As one of the focal points of the Shenzhen Global Investment Promotion Conference and a key project in the city, the Qianhai outlet represents Walmart's significant commitment to expanding operations in China. This opening is considered another step forward in elevating Qianhai's consumer capabilities and contributing to Shenzhen's aspiration of becoming an international consumption hub, according to the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.
As a landmark commercial project in Qianhai, this new store plays a vital role in enhancing the zone's position as a new international urban center, optimizing its business environment, and driving the rapid aggregation of high-end retail resources.
The establishment of Sam's Club in Qianhai is not a mere coincidence. In recent years, Qianhai has been accelerating efforts to improve its commercial facilities, nurturing the growth of the commercial sector, and enhancing the overall vibrancy of its business districts. Qianhai aims to establish itself as the core of a world-class consumption center by 2035.
"Starting with Shenzhen-Hong Kong trade and cross-border e-commerce, Qianhai has now gradually evolved to prioritize office-centered businesses and explore diverse commercial domains," said a senior executive of Horoy Uniland Commercial Property Co., Ltd, a company seeking development in Qianhai. "Concurrently, Qianhai has been fostering innovation in modern services, technology, institutional reform, business environment optimization, and governance models within the cooperation zone. These measures will significantly boost Qianhai's appeal and competitiveness, solidifying its status as an influential commercial hub."
It is believed that the opening of the Qianhai outlet will accelerate the influx of high-end retail resources into the region.
Lin Sifan, promotion manager of the Commercial Management Department at the Qianhai-based SIVIN Commercial Management (Shenzhen) Co., Ltd., stated, "Over the past decade, Qianhai has experienced unprecedented transformation, attracting a considerable number of high-net-worth consumers, Fortune 500 companies, industrial-urban complexes, import-export trades, financial institutions, and retail giants. This has laid the essential groundwork for cultivating a thriving commercial business environment in Qianhai."
According to the Qianhai Authority's Commerce Development Department, Qianhai will continue to attract key commercial resources, accelerate the introduction of internationally renowned businesses and brand operators, and support multinational companies with high-end consumer brands in establishing global headquarters, regional headquarters, functional headquarters, product innovation centers, and consumer experience centers. It will strive to foster a number of comprehensive trade service platforms, logistics supply chain enterprises, and circulation headquarters companies with global resource allocation capabilities, while improving its ability to allocate consumption resources. Moreover, Qianhai aims to propel the "first-store economy" and "first-launch economy", encouraging renowned domestic and international brands to set up their first stores, flagship stores, and new concept stores in the area.
Lin Sifan emphasized the perfect alignment of the population influx and the rising demand from the new middle-class consumer base with the Qianhai business environment. Lin believes that the burgeoning desire for emerging lifestyles will drive more people to visit and stay in Qianhai, bolstered by the continuous support of favorable policies.
With major commercial complexes increasingly choosing Qianhai as their base, it showcases businesses' unwavering confidence in the area's development prospects. As consumer activity continues to thrive, Qianhai is poised to generate a virtuous cycle from business to consumption and vice versa, fueling the overall high-quality commercial development in Shenzhen and the rest of the Greater Bay Area.
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