SHENZHEN, China – December 10, 2024

The Luohu district of Shenzhen, recognized as one of South China's economic hubs, has taken significant steps to attract global investment, signing deals amounting to an impressive 62.1 billion yuan (approximately US$8.5 billion) during the 2024 Shenzhen Global Investment Promotion Conference on December 9.

Strategically located with three land ports connecting directly to Hong Kong, Luohu is leveraging its geographical advantage to draw foreign investments. The district is committed to creating a conducive environment for businesses, bolstered by a comprehensive framework of policies, ample real estate options, financial incentives, and extensive government support.

In a bold move to position Luohu as an essential international consumption center, the local government has initiated a three-year action plan focused on transforming it into a global hub for shopping trends. This plan emphasizes attracting domestic and international brands to open their first locations in the district and to launch their latest products with high-profile events. Notably, a reward program was unveiled, offering up to 1 million yuan for businesses that establish their first branches in Luohu, while operational entities can receive rewards up to 3 million yuan.

Additionally, Luohu is offering financial support for business upgrades or renovations, providing subsidies that could reach as high as 10 million yuan.

This proactive approach has already made Luohu a go-to destination for commercial ventures, with 37 flagship stores opening since year's start. Among these are notable firsts for the region, including the inaugural IKEA Home Furnishing Design Center in China, and exceptional retail experiences like the Shafrat MixC World and Four Seas Snack Story stores, which exclusively feature renowned international brands such as L'ECLAIR DE GENIE and the VALMONT flagship outlet.

Chen Xiaojun, the director of the Luohu District Bureau of Commerce, highlighted that the district plans to channel nearly 2 billion yuan into revitalizing its commercial hotspots, with an objective to upgrade five major commercial zones by early 2026. By then, Luohu is set to introduce two distinctive nighttime consumer experiences, four immersive shopping environments, and attract high-profile international brands along with Michelin-starred dining options and popular Chinese labels. The vision includes establishing over 100 flagship or concept stores and creating more than 500,000 square meters of high-end commercial spaces.

Beyond its commercial ambitions, Luohu is also enhancing its tourism offerings, aiming to become a premier getaway destination for residents of the Guangdong-Hong Kong-Macao Greater Bay Area. With a strategic blend of commerce, trade, and cultural tourism, Luohu is positioning itself as the next must-visit hub for both local and international visitors.

Stay tuned as Luohu transforms into a vibrant marketplace and cultural hotspot, poised to redefine the shopping and tourism landscape in this influential region!