Shanghai has revealed an action plan aimed at bolstering consumption, with key tasks set out for the commerce, tourism, retail and sports sectors, along with the city's economic planning organisations.

The service industry is forecast to make up more than half of Shanghai's total retail market by 2027, according to the action plan, which covers 12 main objectives and numerous campaigns to be undertaken over the coming years.

In the next decade, a comprehensive service consumption ecosystem will be established, characterised by high quality, inventive digitalisation and sustainability, aimed at increasing awareness and vitality within the consumption landscape, Shine News reports.

"Shanghai is set to become a word-class benchmark destination for service consumption," stated Zhu Min, director of the Shanghai Commerce Commission.

In addition, more coordinated efforts will be focused on boosting the tourism experience, with subsequent measures planned at local airports, cruise terminals and overseas Chinese visa centres.

By 2027, Shanghai's tourism industry is forecast to reach 550 billion yuan ($76.4 billion), with the city's identity becoming more visible and overall competitiveness increasing.

Furthermore, there is already a steady recovery in leisure consumption in Shanghai, as per recent data.

In the first two months of the year, there was a 20% jump in on-demand delivery for catering and groceries on shopping platform, Meituan, with domestic tourism spending rising 58.5% in January and February.

Additionally, more street bazaars, coffee festivals, and offline campaigns are set to take place in the city later this year, aiming to fully harness digital capabilities to boost the impact of local promotional events such as the city's shopping festivals and the Shanghai Tourism Festival.