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Industry News

‘Build more malls,’ China’s government orders

The Chinese government is encouraging large cities to build more shopping centers to meet the demands of their burgeoning populations, Reuters reports. The Ministry of Commerce announced Saturday that it will urge cities with more than 10 million residents to build at least 10 “multifunctional” centers per year, centers offering not just retail, but also entertainment, restaurants and child care, according to a government press release.

The country has undergone massive urbanization over the past 10 years. Without providing details, the government said it will offer assistance to retailers and investors to help them build such centers for consumers lacking sufficient places to shop.

Economic planners in China have been striving to manage the country's transition from a manufacturing economy to one that is more dependent on consumption.

By Edmund Mander

Director, Editor-In-Chief/SCT

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