Xiamen to open 10 shopping centers this year
A file photo of people shopping in a shopping center in Xiamen, Fujian province. [Photo/WeChat account: xiamen_swj]
With the consumer market as the cornerstone and government policies as the guide, Xiamen in Fujian province has attracted a variety of business formats and brands to settle in the city.
Ten shopping centers, each with an area of over 3 hectares, are scheduled to open this year, with a total volume exceeding 85 hectares.
The first phase of Xiamen "Sea World" shopping center, with a construction area of 12.6 hectares, will open to the public on Sept 30, which is the same day of the opening of the 62-meter-high ferris wheel.
In addition, a wholly-owned subsidiary of K11 Select Management Company Limited won the bidding of the Wuyuanwan Wetland Park TOD project, representing the first K11-led project to be established in Fujian province. The project is scheduled to commence on June 22 and be completed on Sept 30, 2025.
The growing number of shopping centers in Xiamen boosted the market entity as a strong economic drive.
From January to April, Xiamen achieved a total of 98.26 billion yuan ($14.72 billion) in retail sales, a year-on-year increase of 1 percent.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.