Group 1: Overall Consumption Performance - In the first half of 2025, Shenzhen's total retail sales of consumer goods reached 494.87 billion yuan, with a year-on-year growth of 3.5% [1] - Nanshan District emerged as a consumption powerhouse, with a total retail sales of 95.96 billion yuan, marking a year-on-year increase of 13.1%, leading both in total and growth rate among all districts [2][4] Group 2: Key Growth Drivers - Nanshan District attracted 60 new flagship stores in the first half of the year, the highest among all districts in Shenzhen, contributing significantly to its consumption growth [5] - The opening of new experiential retail spaces, such as the K11 ECOAST cultural and artistic district and the first JD MALL in Shenzhen, has enhanced consumer experiences and driven sales [7][8] Group 3: Tourism and Cultural Consumption - Dapeng New District saw a retail sales growth of 10.1%, primarily driven by tourism, with 9.67 million visitors and a tourism revenue of 6.04 billion yuan, reflecting a year-on-year increase of 20.6% [9][10] - The district's cultural tourism initiatives have attracted a significant number of visitors from the Greater Bay Area, contributing to local retail and hospitality sectors [10] Group 4: Policy Impact on Consumption - The "old-for-new" policy in Pingshan District led to a retail sales growth of 10.5%, with significant increases in categories such as home appliances and office supplies [15][16] - Shenzhen's implementation of the "old-for-new" policy has benefited over 11 million people, with subsidies amounting to 5.66 billion yuan, driving sales of approximately 46.85 billion yuan [16]