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Shopping malls compete furiously
www.chinanews.cn 2005-04-06 13:53:59
Shanghai is home to as many as 97 shopping malls. By the end of 2005,
there will be up to 121 shopping malls and they will face severe
competition. According to the commercial "tenth five-year" plan of
Shanghai city, the city will allow 60 new malls in 2005 and 100 by 2010.
This steep rise in the number of malls will impact profits of the entire
industry. Statistics from relevant departments indicate that the number
of stores in shopping malls in Shanghai increased 27% in 2003, overall
revenue rose 17%, while the revenue of individual stores declined 8%.
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