Plan for more commercial hubs
By Joyce Pan |
October 29, 2009, Thursday
|
Print Edition
Print Edition
SHANGHAI plans more commercial centers in the next decade to boost consumption to sustain economic growth.
The city will construct two more city-level commercial centers - in the Greater Hongqiao area and in the Zhenru area in Putuo District - bringing the total number to 12, according to a guideline by Shanghai Commerce Commission yesterday.
Shanghai also plans to build another five regional commercial centers on top of the existing 17 centers and eyes 102 community commercial centers.
The commercial centers will play a vital role in upgrading the retail industry and help stabilize the city's economic growth, the commission said. Optimizing the layout of the city's retail network will also help boost domestic consumption and better cater to consumer needs, it added.
The city will also offer preferential tax policies to encourage banks and high-end retailers to set up business in communities, and waive or cut rent and give subsidies to loss-making firms.
Shanghai's gross domestic product rose 7.1 percent annually in the first three quarters, propelled by sustained growth in consumption. The city's retail sales jumped 14 percent year on year in the first three quarters, up from a 13.8-percent rise for the January-June period.
The city will give priority to the Greater Hongqiao and Lujiazui Financial Zone as it develops the commercial zones.
The city will construct two more city-level commercial centers - in the Greater Hongqiao area and in the Zhenru area in Putuo District - bringing the total number to 12, according to a guideline by Shanghai Commerce Commission yesterday.
Shanghai also plans to build another five regional commercial centers on top of the existing 17 centers and eyes 102 community commercial centers.
The commercial centers will play a vital role in upgrading the retail industry and help stabilize the city's economic growth, the commission said. Optimizing the layout of the city's retail network will also help boost domestic consumption and better cater to consumer needs, it added.
The city will also offer preferential tax policies to encourage banks and high-end retailers to set up business in communities, and waive or cut rent and give subsidies to loss-making firms.
Shanghai's gross domestic product rose 7.1 percent annually in the first three quarters, propelled by sustained growth in consumption. The city's retail sales jumped 14 percent year on year in the first three quarters, up from a 13.8-percent rise for the January-June period.
The city will give priority to the Greater Hongqiao and Lujiazui Financial Zone as it develops the commercial zones.
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