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December 11, 2009

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Home » Business » Consumer

Glitzy new commercial area in pipeline

SHANGHAI plans to nearly double the space of the New Hongqiao Commercial Area over the next 10 years as part of plans to boost local consumption, a development report said yesterday.

The commercial area in west Shanghai's Changning District will exceed 600,000 square meters to encompass a central business district, high-end shopping malls as well as catering and entertainment facilities. Currently the 374,000 square meter area comprises commercial facilities, according to the report.

The New Hongqiao area, 5.5 kilometers from Hongqiao International Airport and 8 kilometers from the Hongqiao comprehensive transport hub, is targeting travelers from the Yangtze Delta region and other provinces and regions as well as people living in west Shanghai.

The report said daily passenger traffic via the Hongqiao transport hub could be as high as 600,000 people in the long run, and 50 percent of them will head to the New Hongqiao area.

The area is one of the two new city-level commercial centers, according to a city commercial blueprint released in late October.

The Shanghai Commerce Commission has drafted 12 city-level commercial centers, 22 regional commercial hubs and 102 community ones in the next decade to boost consumption to sustain the city's economic growth.


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