In an effort to boost consumption amid China’s economic slowdown and severe lack of consumer demand, Shanghai, the country’s largest economic center, has launched the initiative of “Never Close for New Year” in key commercial areas. Businesses in these districts are issuing consumer vouchers for the New Year and some shops have extended their operating hours until midnight to increase sales, though the results have been disappointing. On New Year’s Eve, the famous Nanjing Road pedestrian street, known as the “Number One Commercial Street of China,” did not see the usual crowds seen during holidays like May Day and National Day.
To stimulate consumption, Shanghai has introduced the “Night Carnival” and “Never Close for New Year” programs. According to The Paper, the unique way Shanghai, a commercial city, welcomes the new year through non-stop shopping from December 31, 2025, to the early hours of January 1, 2026.
The First Grand Mall will kick off a 17-hour “Year-end Carnival” promotion on December 31, lasting until the next morning. Meanwhile, Bailian Qingpu Outlet Mall in collaboration with Qingpu District will host the “2026 New Year Riverside Music & Fireworks Show,” featuring discounts from nearly one thousand international brands starting at 10% off. Additionally, MEGA in Hongqiao Impressions City will launch a New Year consumption season when it opens, and on the night of December 31, the “Animal City Fantastic Night” New Year’s Eve party will feature million-dollar musicians and emerging talents to attract consumers.
It has been observed that apart from established shopping malls like The First Grand Mall and Xintiandi, several commercial areas and streets in Shanghai have extended their operating hours. In the Nanjing East Road commercial district, venerable brands such as New Ya, Taikang, Zhenlaoda Fang, Shendacheng, Laodatong, flagship stores like Huawei, TOPTOY, and the MINISO global flagship store, as well as cultural and tourism businesses like Madame Tussauds Wax Museum, have collectively extended their hours until the early hours of January 1 to tap into nighttime consumption potential.
Despite official efforts to promote consumption through various activities, the impact has been underwhelming. On the evening of December 31, around 6 p.m., reporters observed that Nanjing Road pedestrian street, renowned as a bustling shopping destination, did not see the same crowds as during the Labor Day or National Day holidays.
Previously, the Chinese Ministry of Commerce launched the nationwide “Buy in China” campaign and the Spring Festival consumption season. On December 30, Shanghai initiated the New Year consumption season, which will continue until March 3, 2026, covering the New Year, Chinese New Year, and Lantern Festival. During this period, key commercial areas, business streets, and e-commerce platforms will host multiple consumer-promotion activities.
In 12 key commercial zones like Lujiazui, Nanjing West Road, Nanjing East Road, Xujiahui, and Wujiaochang in Shanghai, the authorities plan to invest over 90 million RMB in financial resources to distribute retail and dining vouchers, offer discounts, and organize prize draws to incentivize consumption.