PR100243

SHENZHEN, China, July 25, 2023 /Xinhua-AsiaNet/--

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.

Source: Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry

Cooperation Zone