Qingyun Road Pedestrian Street embraces 'first-launch economy'

Qingyun Road Pedestrian Street in Naming district of Guiyang city is embracing the "first-launch economy", boosting regional economic development.

A long queue formed on Feb 5 outside an 11-square-meter fresh milk store in Qingyun Road Pedestrian Street. "This store's houttuynia cordata-flavored yogurt is popular on social media – I have to try it!" said an eager customer.

Utilizing China's vast market advantages, the "first-launch economy" is gaining traction nationwide, driving consumer spending and market vitality.

But what is the first-launch economy? According to Li Gang, director of the department of market operation and consumption promotion at the Ministry of Commerce, it refers to businesses debuting new products, services, models, and technologies. These offerings are often trendy, innovative, and high-quality, catering to consumers' diverse and premium demands.

In 2020, the National Development and Reform Commission and multiple departments issued guidelines to expand and upgrade consumption, supporting key cities in developing "first-store" and "first-launch" economies.

In December 2024, the Ministry of Commerce and six other departments released the Retail Innovation and Enhancement Implementation Plan, outlining measures to promote first-launch businesses and events.