TAIPEI (Taiwan News) – This year, China is planning to embark on a massive spending spree to construct shopping malls across the country's metropolis cities that have a population exceeding 5 million.
According to the plans outlined by China’s Ministry of Commerce, the number of shopping centers to be established in each city will vary depending on the population scale. A megalopolis boasting more than 10 million residents will see at least 10 malls built, while cities with a population between 5 million and 10 million will be home to 5 shopping facilities at minimum.
The malls will be designed with multi-purpose functionality, providing people with shopping, recreation, dining, and babysitting, among other services, reported Liberty Times.
The initiative aims to address rising consumption demands in China’s fast developing regions, and at the same time seeks to attract investments from private corporations and franchise businesses.
Thanks to industrialization and urbanization efforts over the past decade, China has seen a growing number of cities where the scale and consumption demand are rivaling those of Shanghai and Beijing, the report said.
The announcement from the Chinese government does not include any timeline or estimated cost for the proposed shopping mall construction spree.