Shanghai, Asian capital of tourism and luxury with a strong French presence (#201)
On the occasion of Chinese New Year (January 28), Shanghai reaffirms its leading position in tourism, especially among Koreans and Japanese, due to its strategies aimed at enhancing its tourist appeal. Shanghai also serves as the epicenter for luxury consumption and the presence of prominent brands such as LVMH, Kering, Hermès, and Chanel, with a record number of Chinese among the consumers of high-end products. In 2024, China accounted for 33% of global luxury goods consumption. In the same year, marking the 60th anniversary of diplomatic relations between France and China and the year of Franco-Chinese cultural tourism, Shanghai also played a key role in Franco-Chinese relations with cultural events and the revival of French tourism, thanks to the possibility of 15-day visa-free stays.
Shanghai, the Asian capital of tourism and luxury?
Shanghai has recently emerged as a preferred destination for South Korean tourists, surpassing cities like Tokyo and Paris.
Shanghai has recently become the favored destination for South Korean tourists, with a 452% increase in Korean travel bookings to China from January 28 to February 4, surpassing cities like Tokyo and Paris. This surge is largely due to a temporary Chinese policy that eliminates visas. This measure significantly boosted the number of tourists from South Korea and Japan, especially bookings for the Spring Festival, according to Trip.com.
The visa-free policy, also implemented for Japanese visitors, saw visitor numbers from Japan increase by 107% the day it took effect. In Shanghai, this influx resulted in a flood of Korean tourists to popular sites such as Lujiazui and the Peninsula Hotel, as well as luxury experiences like upscale bars and shopping centers. The city's attractions, both modern and historical, along with similarities in climate and cuisine to Seoul, were major draws for these visitors.
To capitalize on this tourism boom, Shanghai has transformed many urban resources into tourist attractions. Notable initiatives include the "Half-Day International Transit Tour," which attracted thousands of international visitors, and the "Shanghai Pass," a multi-use prepaid card that facilitates financial transactions for tourists. See the Chinese tourism newsletter #182: Shanghai, the epicenter of Sino-French tourism, cultural, and economic exchanges
Dans ce contexte, Shanghai continue de se positionner non seulement comme un carrefour du tourisme asiatique mais aussi comme un point central pour l'interaction culturelle et économique régionale, attirant un nombre croissant de visiteurs grace à ses infrastructures modernes et ses riches offres culturelles.
Shanghai, the new capital of luxury in Asia?
Over the past decade, China has established itself as the leading market in the luxury sector, becoming essential for giants such as LVMH, Kering, Hermès, and Chanel. Shanghai, in particular, plays a central role in attracting Chinese consumers to luxury products. However, the year 2024 was marked by a slowdown in luxury goods sales in China, ranging from 10 to 50% during the summer of 2024, particularly impacting French houses, according to a Barclays report. This slowdown is exacerbated by the "gao chao" (referring to the "Guochao" movement), which literally means "national trend" in Chinese. This movement celebrates a new wave of Chinese brands and designers who incorporate elements of traditional Chinese culture into modern and innovative designs. This cultural and commercial phenomenon has gained popularity, especially among young Chinese consumers who are proud of their heritage and increasingly favor local brands over foreign alternatives. This evolution poses a challenge for traditional brands, facing a middle class increasingly reluctant to pay a premium for foreign brands, especially against more affordable local options. In this context, Bénédicte Epinay, General Delegate/CEO of the Comité Colbert remains optimistic, stating that "French luxury is promised a bright future in China."
Shanghai, a center of cultural exchange with a strong French presence.
Shanghai Art Week.
"The 'Shanghai Art Week' was highlighted by the openings of several artistic exhibitions, significant presence at the two contemporary art fairs Art021 and West Bund, and by the display of works by French artists in urban spaces.
This week also saw the arrival of the French Ambassador to China, Bertrand Lortholary and the President of the Institut fran?ais, Ms. Eva Nguyen Binh, to support French cultural actions in China. The year 2024 is noted for the scheduling of more than 400 events organized in 31 cities, covering visual arts, performing arts, cinema, books, debates, heritage, and music. Key venues for these events included the Rodin Center in Shanghai, West Bund x Centre Pompidou, the Cartier Foundation for Contemporary Art, and the Mobilier National exhibitions."
"The exhibition 'Gabrielle Chanel. Fashion Manifesto' captured the spirit of Gabrielle 'Coco' Chanel, a timeless symbol of elegance. From July 12 to November 24, the Power Station of Art hosted this retrospective exhibition celebrating the life and work of the founder of the iconic Parisian couture house."
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Exposition ? Résonance Art déco : Paris chic – Shanghai moderne ? sur le Bund de Shanghai
ART SHANGHAI : l'exposition ? Résonance Art déco : Paris chic – Shanghai moderne ? débarque à Shanghai. [Photo/Shanghai Observer] Cette année marque le 100? anniversaire du style artistique Art Déco. Le 8 novembre, l'exposition ? Résonance Art déco : Paris chic – Shanghai moderne ? d'ART SHANGHAI a été officiellement inaugurée au Bund One à Shanghai, qui durera jusqu'au 16 février 2025.
To delve deeper into the subject of this exhibition on the links between Art Deco in Paris and Shanghai, one can read the article by David Maurizot : "The French Builders of Shanghai: Léonard and Veysseyre."
French Presence in Shanghai in 2024 (French Pavilion at the 7th CIIE and Opening of a Cosmetic Valley Office) at the Heart of Relations between China and France
French Pavilion at the 7th CIIE in Shanghai
France maintains a close relationship with the China International Import Expo (CIIE).
The CIIE reflects the importance of trade exchanges between China and France. Since the first CIIE in 2018, French companies have actively participated in this annual event in Shanghai, seeing it as an opportunity to showcase their products and services to the vast Chinese market. In 2019, France was the guest of honor, a distinction marked by the presence of the French President Emmanuel Macron at the opening ceremony. This participation highlighted the quality and diversity of French products, particularly in the sectors of agribusiness, luxury, and aerospace.
In 2019, the French President Emmanuel Macron, who attended the CIIE, stated during his visit on November 5, 2019, in Shanghai, "Today, as in the past, China needs its openness to the world as much as the world needs China's openness."
In 2024, France was once again the guest of honor at the 7th edition of the CIIE.
This edition highlighted French products and the commitment of French companies to the Chinese market. 43 French companies were present.
Cosmetic Valley in Shanghai opened an office in Shanghai on the occasion of its first participation in the 7th CIIE.
In the year of its 30th anniversary, Cosmetic Valley unveiled its plans for the opening of its first overseas office in Shanghai, in the context of the 60th anniversary of Sino-French diplomatic relations. Cosmetic Valley thus reinforced its commitment by signing a memorandum of understanding in October for the establishment of an office in Shanghai. This strategic choice aims to facilitate regular exchanges between Chinese and French cosmetic companies, thereby creating a robust mechanism for sustained engagement.
Christophe MASSON , the CEO of Cosmetic Valley, shared his perspectives during an exclusive interview with China Daily's Xia Miao, highlighting the organization's commitment to fostering new collaborations in the fields of business, research, and the cosmetics industry.
"China has been our foremost global partner since our establishment in 1994. After more than three decades of collaboration, we continue to see China as a key market for France. As a leader in cosmetic product exports, the unwavering support from Chinese consumers strengthens our resolve to increase our production and innovation," stated Masson.
As part of the 60th anniversary of diplomatic relations between China and France, Cosmetic Valley has solidified its commitment by signing a memorandum in October for the opening of an office in Shanghai. This strategic move aims to facilitate regular exchanges between Chinese and French cosmetic companies, establishing a robust mechanism for sustained engagement. Highlighting the flourishing innovation landscape in China, Masson praised the country's dynamic ecosystem, emphasizing the importance of connecting with emerging brands. The recent inclusion of Chinese brands at the COSMETIC 360 show in Paris represents a crucial step in fostering bilateral exchange and mutual learning.