Several national legislators from Shanghai suggested the city to speed up integration of culture, tourism, business, and sports to further boost consumption and address the rapidly evolving consumption structure.

Emphasizing the significance of cultural and technological empowerment, the deputies to the National People's Congress highlighted on the sidelines of the ongoing national two sessions held in Beijing how such factors can give rise to new products, technologies, and services that cater to diverse age groups, ultimately driving increased consumer spending.

Quan Heng, an NPC deputy and Party secretary of the Shanghai Academy of Social Sciences, noted that over the past decade, the growth of service-oriented consumption has been steadily gaining momentum, indicating a rapid transformation and upgrade of the country's consumption structure.

"Recognizing such a trend, the Shanghai government keenly proposed expediting the coordinated development of culture, tourism, business, and sports last year, which has already yielded commendable results," he said.

For instance, the city's government departments of culture, tourism, business, and sports have enhanced collaboration efforts, said Quan.

A good result of that was that last year, the F1 Chinese Grand Prix, held over a mere four-day period, directly generated an economic benefit of about 1.4 billion yuan ($193 million).

Also, initiatives of creating new experiential settings to drive consumption have been successful, Quan said.

For example, the Civilization of Ancient Egypt exhibition held in Shanghai last summer attracted 1.6 million visitors and generated revenues of around 400 million yuan, with about half coming from relevant cultural and creative industries among others.

The NPC deputies have also suggested measures, including enhancing the quality and services of culture, tourism, business, and sports offerings, and intensifying high-level opening-up to attract more international visitors for consumption.