Around 114 "first shops" opened in Shanghai in the first half of the year, with some making their debut in Asia and even the world, highlighting the city's consumption vitality.
It's part of the first-store economy, in which brands set up flagship stores that are the first in the city or region.
Just this week, another famous brand opened its first Asian outlet in Shanghai. Famous ice cream brand International Dairy Queen opened its first restaurant selling hot food and treats in Asia.
Burgers and fried chicken offered by the ice-cream maker have garnered a lot of attention from consumers.
"I saw on social media that it's the first shop in China. So I decided to come and try," said a local resident.
"If it has gone viral on social media, I'm willing to spend some time and queue up to try," said another local.
The company has an ambitious plan of opening two more restaurants in Shanghai in the next two months, and 180 restaurants nationwide by 2034.
"China is actually our fastest growing market and has been for a number of years. And we have no intention of slowing down," said Troy Bader, president and CEO at International Dairy Queen.
"For those brands who are opening their first shop in Shanghai, they are trying to actually attract those high-potential customers often with spending power but also a high level of appreciation for the new culture and new trend," said Jason Yu, Managing Director of Kantar Greater China.
On Wednesday, the Shanghai Municipal Commission of Commerce announced that it will give financial subsidies to dining brands that choose Shanghai for their first outlet this year. It's the first time that such a subsidy is being offered.
Shanghai welcomes over 100 "first shops" as flagship stores debut in H1
Long-standing challenges in Mexico's automotive industry have been exacerbated with the implementation of the U.S. tariff on imported cars, which took effect Thursday, fueling uncertainty and job losses.
Last month, U.S. President Donald Trump announced a 25 percent tariff on all imported automobiles.
Ciudad Juarez, one of Mexico's largest trade ports and a key manufacturing hub, is now facing even greater challenges as rising trade protectionism deepens existing pressures.
At a medal parts manufacturing factory that has been in operation for over 30 years, the workforce has drastically reduced from 60 workers to just 25 due to uncertainty about the future.
Even before the U.S. tariffs on imported cars took effect, mounting pressure had already begun to ripple through the industry, prompting many companies to suspend investment and procurement plans.
"Some 95 percent of the products exported from Chihuahua, where Ciudad Juarez is located, are industrial manufactured goods. We have held multiple meetings to discuss solutions. In fact, over the past year and a half, more than 55,000 factory workers here in the city have lost their jobs," said the owner of the factory.
The automotive industry is a key pillar of Mexico's economy, generating nearly 100 billion U.S. dollars in output. The auto parts assembly industry alone provides over 900,000 jobs for the country, while automotive assembly companies create 175,000 jobs.
According to statistics from the Mexican Association of Automotive Dealers (AMDA), over 40 percent of the components used by American auto manufacturers are imported from Mexico. Last year, Mexico produced four million cars, approximately three million of which were exported to the U.S.
Industry insiders indicate that due to the high degree of interdependence in the sector between the U.S. and Mexico, along with a shortage of skilled labor, the U.S. goal of bringing automotive manufacturing back to its shores through tariffs is unlikely to be realized in the short term.
Moreover, the established industrial chain in Mexico faces the risk of being disrupted, which will ultimately have repercussions on consumer spending and further exacerbate inflation in the long run.
"Young people from the U.S. are no longer willing to work in the manufacturing sector. I believe there will be no growth in the relocation of automotive parts and vehicles factories in the short term," said Guillermo Rosales Zarate, ADMA's executive president.
"Personally, I hope this avalanche of tariffs doesn't continue; otherwise, it will lead to more significant issues affecting the U.S. economy. If these tariffs remain in place long-term, it will be the American people who suffer the most," said Ricardo Ramos, a professor with the Autonomous University of Ciudad Juarez.
U.S. automotive tariffs deepen industry pressures, halt investments in Mexico
