High-rise buildings and skyscrapers dominate the skyline of the Huangpu River and the Lujiazui Financial district in Pudong, Shanghai. (Photo: Sipa)
An index compiled by the Shanghai Institute of Quality and Standardization and the Research Center of Shanghai Commercial Development in June showed that Shanghai scored 86.8 points in the first half of 2020, an indication that it has become a stage for the unveiling of global brands.
The index is based on three factors - number of new brands, business dynamics and the impact of new products and stores.
Said to be the first of its kind, the index was released on June 5 as part of the 2020 Shanghai Global New Product Launch Season, an event organized by the municipal government to boost consumption.
According to Liu Min, deputy director of the Shanghai Municipal Commission of Commerce, 40 companies and 80 brands have held 110 new product launches during the month-long event.