Related sectors booming

Lin Jialin, an assistant professor at the School of Journalism and Communication at Sun Yat-sen University in Guangzhou, said the economic ripple effect of the concert boom is evident in the retail and hospitality industries. Meanwhile, Shenzhen's concert economy is attracting tourists from other cities and provinces, further stimulating the growth of the accommodations, transportation and catering businesses.

"Shenzhen, with its rapidly growing population and relatively young demographic, has become a hot spot for concertgoers, and the surge in attendance is not only benefiting the entertainment industry but also having a positive impact on various sectors of the local economy," Lin said.

She said cities that understand and respond to the needs of young people can gain a comparative advantage in the development of cultural tourism and in the competitive landscape of the new business model of "concerts plus retail".

"Shenzhen's concert boom is a testament to its resilience and ability to adapt to changing consumer demand, making it a vibrant and dynamic city in the cultural and entertainment sectors," she said.

In 2020, when President Xi Jinping met with representatives and experts in education, culture, health and sports at a symposium in Beijing, he said, "We should continue to put social benefits first, unify social benefits with economic benefits, deepen reform of the cultural system, improve planning and policies for the cultural industry, and constantly expand the supply of high-quality cultural products."