Guangzhou's Five-Year Consumption Center Push: Retail Sales Hit 1.1 Trillion Yuan, SHEIN Valued Over 450

Five years ago, the State Council approved Shanghai, Beijing, Guangzhou, Tianjin, and Chongqing as the first cities to pilot the development of international consumption centers, with Guangzhou being the only non-provincial-level municipality. In 2025, Guangzhou's total retail sales of consumer goods reached 1.1 trillion yuan, remaining above the trillion-yuan mark for the fifth consecutive year, with a growth rate of 5.5%, leading among the five cities. In the first half of 2026, retail sales grew 2.9%, again the fastest. Meanwhile, Guangzhou's import and export volume consistently stayed above 1 trillion yuan, making it the third city in China after Beijing and Shanghai to achieve "dual trillion" status in both consumption and foreign trade.

Over the past five years, Guangzhou's high-end commercial gaps have been filled. Taikoo Li in Bai'etan has opened, Mixc is about to open, and SKP has signed an agreement in Tianhe. Panyu has welcomed Mixc World, K11, and the Nanzhan Tianhuan projects. The five top-tier commercial IPs — Taikoo Hui, K11, Taikoo Li, Mixc, and SKP — have all gathered in Guangzhou. Commercial spaces have evolved from transaction venues to showcases of urban lifestyle.

A large number of original consumer brands have emerged in Guangzhou. SHEIN has grown into a globally renowned fast-fashion enterprise with a valuation exceeding 450 billion yuan, making it the third-largest unicorn in China. In the apparel sector, brands include UR and Biyinfen; in cosmetics, Carslan, Perfect Diary, Guyu, and Ximuyuan; in retail, MINISO. Behind these brands is Guangzhou's complete industrial chain covering design, production, supply chain, and sales.

Measures to facilitate inbound consumption and departure tax refunds have been continuously implemented. A total of 15,900 key merchants support foreign card payments, 5,077 ATMs allow foreign card withdrawals, and 428,000 digital wallets have been distributed. Some 9,000 subway gates can be accessed by swiping international bank cards. The volume of "out-of-network in-network use" and "foreign card domestic binding" transactions grew 226.2%. There are over 1,700 tax refund stores covering all 11 districts, with the qualification review time shortened to one day. The nation's first paperless tax refund form was issued in Guangzhou. During the Spring 2026 Canton Fair, the number of tax refund forms issued increased 11 times, sales rose 1.5 times, and single-day form issuance exceeded 2,000.

Guangzhou's commercial landscape has entered a multi-center era. Areas such as Bai'etan, Wanbo, Financial City, and Pazhou are accelerating development, forming multiple growth poles and achieving a more balanced urban space.

The Ministry of Commerce and the Ministry of Finance launched a pilot program for new consumption formats, models, and scenarios, and Guangzhou was selected. In the first half of 2026, Guangzhou launched its first Service Consumption Season, with active sectors including dining, cultural tourism, health and wellness, and home services. Pet services grew 22.3%, medical aesthetics 11.3%, and health and wellness 8.9%. A 170 million yuan "Eat in Guangzhou" consumption voucher program drove 850 million yuan in dining spending. The trade-in policy included local products such as digital cameras and smart printers in subsidies, driving cumulative sales of over 127.5 billion yuan, benefiting 17 million person-times. The "Yangcheng New Eight Consumption Scenes" covered themes such as flower markets, pets, anime, and cuisine, with over 120,000 performances, more than 3,000 consumption events, over 160 international-level events, and 260 million tourist visits throughout the year.

A total of 508 specialized markets, including Liuhua and Baima, have been upgraded into original design and brand incubation bases. The Global Business Matching Conference facilitated over 100 markets in launching convenient payment systems. The country's first time-honored brand revitalization fund invested over 230 million yuan, with heritage brands such as Guangzhou Restaurant, Chen Liji, and Zhimeizhai launching co-branded products and new categories. Over the five years, the first city-level debut service organization in China was established in Guangzhou, with more than 6,000 debut stores, shows, and exhibitions taking place.