七大万亿消费之城，购买力外溢带动区域新增长

Core Viewpoint - Boosting consumption is a crucial task for China's economic development, with major consumption cities playing a leading role in driving economic growth and high-quality development through consumption upgrades, industrial linkage, and policy innovation [1][2]. Group 1: Consumption Cities Overview - In 2024, seven cities in China will have a retail sales total exceeding 1 trillion yuan, including Shanghai, Chongqing, Beijing, Guangzhou, Shenzhen, Chengdu, and Suzhou [1]. - The top ten consumption cities by retail sales in 2024 are Shanghai, Chongqing, Beijing, Guangzhou, Shenzhen, Chengdu, Suzhou, Nanjing, Wuhan, and Hangzhou [1]. Group 2: Chongqing's Consumption Growth - Chongqing achieved a retail sales total of 1.57 trillion yuan in 2024, a 3.6% increase from the previous year, and aims for a 5% growth in 2025 [4][6]. - The city is focusing on expanding domestic demand through various initiatives, including transforming commercial carriers and developing new consumption scenarios [5][6]. Group 3: Shanghai's Consumption Challenges - Shanghai's retail sales totaled 1.794 trillion yuan in 2024, a decline of 3.1% year-on-year, with significant drops in categories like jewelry and automobiles [7][8]. - The city is implementing measures to boost consumption, including major shopping festivals and enhancing service consumption [8][9]. Group 4: Beijing and Guangzhou's Strategies - Beijing is leveraging its market size and the Winter Olympics legacy to enhance its consumption circle, with a retail sales total of 1.407 trillion yuan in 2024, down 2.7% [10][12]. - Guangzhou's retail sales reached 1.105 trillion yuan in 2024, with a slight increase of 0.03%, and is focusing on IP economy and new consumption areas [13][14]. Group 5: Emerging Consumption Trends - Cities like Nanjing, Wuhan, and Hangzhou are showing strong retail sales growth, with Nanjing achieving a 7.9% increase in the first two months of 2024 [22][24]. - The "old-for-new" consumption policy is driving significant retail growth in various categories across multiple cities [24][25]. Group 6: Future Outlook - The report emphasizes the need for cities to enhance local manufacturing, consumption environments, and service levels to sustain consumption growth and drive regional economic development [25].