Shanghai is aiming to expand the value of its consumer goods industry to more than 750 billion yuan ($110.7 billion) by 2028, according to official sources, with the city seeking to grow its fashion consumer industry alone to more than 500 billion yuan.

According to a three-year action plan on high-quality development published on Tuesday, the city aims to cultivate around 100 companies with trademarks representing Shanghai's fashion identity.

Representing fashion technology and oriental aesthetics, Shanghai has set a clear goal of becoming both a source of fashion innovation and a destination for fashion consumption. To achieve this, efforts will focus on innovating product supply to meet diverse demand and improving balance in the fashion consumer goods sector.

Through the supply of high-quality fashion consumer goods, the development of an innovative ecosystem for fashion consumption products, and the creation of coordinated industrial support, all parties involved will strive to ensure the high-quality development of Shanghai's fashion consumption industry, the action plan stated.

The plan was unveiled during the launch ceremony for the "Made in Shanghai" initiative, which also featured themed forums and a digital fashion consumer goods exhibition offering an immersive, interactive experience.