"With a diminishing number of new projects, ongoing adjustments and renovations of existing developments have consistently introduced fresh dynamics to the market. Although Chengdu’s total retail sales experienced slow growth, more robust incentive policies have driven increased consumption of electronic products and appliances, contributing to a stable average vacancy rate across citywide shopping malls."

"With sustaining supply and weak growth in demand, Chengdu retail market’s average shopping mall vacancy rate edged up in Q4/2024, compared to the stable 10% in the first three quarters."

"Foreign tourists in Chengdu have increased considerably in 2024. The first buy-and-refund spot in Sichuan province was set up at Chengdu IFS in September, facilitating the tax refund process for foreign consumers. More renowned brands have opened stores at Chengdu airports. All above are favorable to promote the consumption of foreign tourists."

"Chengdu retail market’s new projects have become more diverse, adding much freshness to the market. Apart from the opening of new shopping malls and relaunch of renovated projects, non-traditional retail projects have kept on innovating retail space and contents, exploring possibilities for Chengdu retail development."