Core Viewpoint - Chinese companies are facing increased difficulties in expanding overseas due to heightened external tariff impacts and global supply chain adjustments, necessitating a shift towards new international markets and emphasizing economic reforms to better unleash domestic consumption potential [1][3]. Group 1: Challenges and Opportunities - The impact of tariff increases has hindered Chinese exports to the U.S., despite a temporary 90-day lower tariff window, leading companies to consider exploring emerging international markets or focusing on domestic demand [3]. - China is aware of how to respond to external shocks like trade wars, and even in adverse scenarios, the vast domestic consumption market can sustain economic growth [3]. Group 2: Economic Transition - The Chinese government recognizes the need to transition from an export-driven economy to a consumption-driven one, which is essential for both current growth stabilization and long-term high-quality development [3]. - There is significant potential for innovation in Chinese consumption, with new consumer demands being met by an evolving supply landscape, as evidenced by recent trends in various consumption sectors [3]. Group 3: Policy Initiatives - Various regions in China are implementing local consumption promotion plans based on the national "Consumption Promotion Action Plan" issued in March, focusing on optimizing new consumption supply [4]. - The government is also working to enhance consumer confidence by improving the social security system and has prioritized consumption in the 2025 government work report, allocating 300 billion yuan for initiatives like trade-in programs for consumer goods [4]. Group 4: Future Outlook - While some policies may have uncertain short-term effects, the long-term impact is expected to be positive, with gradual changes requiring time to materialize [5]. - As new policy effects continue to unfold and market confidence improves, the internal economic momentum in China is anticipated to strengthen, leading to a positive economic outlook [5].

Group 1 - The "2025 Shanghai International Beauty Festival" has been launched in Jing'an District, Shanghai, featuring seven international beauty giants and renowned brands, creating a consumer corridor that showcases both global debuts and domestic trends [1][2] - Jing'an District is positioned as a "demonstration area for international consumption center cities" and a "global new product launch hub," with a retail sales total exceeding 160.5 billion yuan in 2024, maintaining the top position among central urban areas [1][2] - In 2023, Jing'an attracted 234 new stores, including six global flagship stores, three Asian flagship stores, and 33 national flagship stores, highlighting its appeal as a "buy global, sell global" destination [1] Group 2 - The district has introduced major projects and measures to integrate culture, tourism, commerce, and sports, launching a "Jing'an Four Seasons Activity List" and various consumer incentive policies to create a one-stop shopping experience [2] - Jing'an plans to distribute "Jing'an Business Circle Premium Consumption Coupons" covering beauty, retail, and boutique chains, coinciding with the May Day and "520" wedding consumption seasons [2] - The district aims to establish itself as a "global cosmetics headquarters" by attracting renowned beauty and skincare companies, fostering a hub for innovation in the beauty industry [2][3] Group 3 - The Shanghai International Beauty Festival aims to gather cosmetic resources, enhance industry capabilities, and provide a platform for cosmetic companies to establish themselves in Jing'an [3] - The initiative focuses on innovating consumption models, deepening the integration of culture, tourism, commerce, and sports, and enhancing the international consumption environment [3] - Jing'an is actively working to create new scenarios for international consumption aggregation and to become a leading global beauty consumption hub [3]