During the Lantern Festival, the sign reading “180-minute wait at theZigzag Bridge” highlights the immense popularity of the Yuyuan Lantern Festival in Shanghai during this past Spring Festival. This year marks the 3rd year of the Yuyuan Lantern Festival featuring the theme “A Tale of Fantastic Lanterns” and 30th anniversary of the festival. The festival has evolved from a traditional celebration into an important IP that embodies China’s rich cultural heritage.

Just 500 meters away from the Yuyuan Lantern Festival, the Bund Finance Center (BFC), which recently celebrated its 5th anniversary, featured a giant Harry Potter-themed Christmas tree for the first time in China. As the “wizards” waved their magic wands to light up the Christmas tree, BFC was transformed into a Harry Potter-themed winter wonderland.

The Yuyuan Lantern Festival attracted over 4 million visitors during the 42daysYuyuan Lantern Festival. Behind the achievements, Fosun acted like a “magician”, wielding the wand of its IP to offer various consumer experiences through innovative cross-industry collaborations.

A new twist on a 30-year-old tradition

In recent years, if you ask what is a must-do for the New Year in Shanghai, “a visit to the Yuyuan Lantern Festival” would certainly be on the list.

This new “Spring Festival Tradition in Shanghai” didn’t emerge by chance. Starting in 2023, the Yuyuan Lantern Festival was revitalized under Fosun’s cultural innovation and IP development strategy, guided by the theme of “oriental lifestyle aesthetics”. By tapping into traditional culture, the Yuyuan Lantern Festival created the theme of “A Tale of Fantastic Lanterns”. From the “Classic of Mountains” to the “Classic of Seas”, from the Ocean to the Jungles, it showcases ancient mythological worlds while maintaining traditional zodiac elements and adding deeper cultural significance, reflecting the richness of Chinese heritage.

From the Year of the Rabbit’s “Classic of Mountains Chapter” to the Year of the Loong’s “Classic of Seas Chapter” and now the Year of the Snake’s “Classic of Jungles Chapter”, this series of fantasies has garnered widespread recognition from visitors. It has not only gone viral online but also welcomed over 4 million visitors for three consecutive years.

Today, an increasing number of young people are donning Hanfu to visit Yuyuan for photos and to experience intangible cultural heritage. The festival has also become a favorite among foreign visitors, and has resulted in a significant rise in attendance. The Yuyuan Lantern Festival is becoming a key platform for promoting Chinese culture.

A fusion of Eastern New Year celebrations and Western magic

While cultivating unique IPs like the “A Tale of Fantastic Lanterns”, Fosun is also exploring the synergy between immersive scenes and major international IPs through innovative integrations.

BFC stands as a prime example. Since 2018, it has pushed the boundaries of commercial spaces, creating unique spaces such as the Bund Weekend Market and BFC Riverside Terrace, and Fosun Foundation (Shanghai), opening doors to endless cross-industry collaborations.

At the end of 2024, BFC welcomed the world-class super IP, Harry Potter. In Year of the Snake, BFC unveiled its new “Slytherin” look, seamlessly blending Eastern New Year celebrations with Western magic.

Cultivating vitality with scene + IP

If IP is a seed, then scenes are the soil. Only with innovative nutrients can we create the best IPs. As these IPs develop, they ultimately generate commercial vitality.

As a new landmark of style and fashion, BFC serves as vibrant hub for nurturing fashion and art IPs and an international showcase. The 17-meter-tall Harry Potter-themed Christmas tree harmonizes with the celebrations of the Chinese New Year, while international art exhibitions take place as the same commercial space as youthful trends. This fusion not only transcends cultural boundaries but also sparks new value among diverse IPs through the inclusivity of the “cultural scene”. The 93% increase in foot traffic this New Year underscores the powerful commercial energy generated by this innovative integration.

Atlantis Sanya showcases another possibility for scene IP transformation. By transforming the water park into a wonderland themed around “The Classic of Mountains and Seas” and turning its 1,314 guest rooms into romantic landmarks, this “underwater kingdom” transcends traditional resort concepts. This Spring Festival, the collaboration with the Yuyuan Lantern Festival resulted in a spectacular carnival experience, drawing 200,000 visitors during the holiday and achieving an average hotel occupancy rates of 98% over the seven days.

In 2025, the Yuyuan Lantern Festival was not only held in Sanya but was also held in 10 cities including Rudong and Shenyang simultaneously. Beyond its replication within the Fosun ecosystem, the “A Tale of Fantastic Lanterns” IP transformed the Yuyuan Lantern Festival into a bridge that connects the past and the future, myth and reality, as well as China and the world.

In 2024, the Yuyuan Lantern Festival made its overseas debut at the Jardin d’Acclimatation in France, where it received enthusiastic responses from nearly 200,000 local visitors. In 2025, in celebration of the 75th anniversary of the establishment of diplomatic relations between China and Vietnam, the “A Tale of Fantastic Lanterns”-themed lantern display making a stunning debut in Hanoi, Vietnam. The Yuyuan Lantern Festival is also set to take place in Bangkok, Thailand this summer, commemorating the 50th anniversary of the establishment of diplomatic relations between China and Thailand.

Through the magic of “scene + IP”, Fosun breathes new life into its commercial spaces, delivering fresh consumer experiences through creativity and innovation, enabling IPs to flourish in these vibrant spaces.