Core Insights - The Ministry of Finance and the Ministry of Commerce announced the competitive review results for pilot cities in new consumption formats, with 50 cities including Beijing, Tianjin, Shanghai, Chongqing, Zhengzhou, and Luoyang proposed for selection [1] - The policy aims to support pilot cities in enhancing the first-release economic service system, innovating diverse service consumption scenarios, improving consumption quality, expanding service consumption, and fostering new growth points in consumption [1][2] Group 1: Policy Objectives - The policy implementation period is set for two years, focusing on enhancing the first-release economic service system and promoting diverse consumption scenarios [1] - The initiative aims to better meet the diverse and differentiated consumption needs of the public, thereby providing strong support for high-quality economic development [1] Group 2: Areas of Support - The policy supports the establishment of first-release centers and economic clusters, promoting high-level flagship stores and hosting first-release events [2] - It encourages the creation of innovative service consumption scenarios, including night-time cultural and tourism consumption areas and foreign trade product exhibition centers [2] - The initiative also promotes collaboration between quality consumption resources and well-known IPs, aiming to launch comprehensive consumption scenarios that are creative and socially engaging [2]