Shanghai sets 2030 targets to strengthen international trade hub

Shanghai has unveiled its 15th Five-Year Plan (2026-30) for developing an international trade center, with targets covering trade, consumption, global supply chains, and high-standard opening-up.

The plan calls for Shanghai to retain its position as the world's leading trade port city and achieve more than $3 trillion in cumulative goods imports and exports during 2026-30. Services trade is expected to exceed $300 billion, while cumulative offshore trade is targeted to reach at least $500 billion.

On consumption, Shanghai aims for annual growth of about 5 percent in total retail sales of consumer goods and plans to welcome around 900 high-profile first stores during the five-year period. Sales under the departure tax refund program are expected to reach about 20 billion yuan.

The city will strengthen its global supply chain management capabilities and bulk commodity trading. By 2030, it aims to have around 15 bulk commodity trading entities with annual trade values of at least 100 billion yuan, while recognizing at least 300 additional regional headquarters of multinational companies and around 200 additional foreign-funded R&D centers.

The plan also promotes innovation in goods, services, digital, and emerging trade, including cross-border e-commerce, offshore trade, and bonded and green trade. Shanghai will upgrade digital trade infrastructure and expand cross-border recognition of electronic documents and data services.

To strengthen its role as an international consumption center, the city will attract more international brands and major sporting and cultural events, while improving services for inbound visitors, including multilingual facilities, payment options, and tax refund services.

The plan also calls for further opening-up through platforms including the China (Shanghai) Pilot Free Trade Zone, the China International Import Expo, Hongqiao International Central Business District, the Eastern Hub International Business Cooperation Zone, and the Silk Road E-commerce Cooperation Pilot Zone.