Trade and Commerce Leap Forward in SIP
Christmas and New Year festivals spurred on the general consumption in SIP to such an extent that the total retail volume of social commodities reached 390 million yuan RMB in December, 2005, and added up to 3.83 billion yuan RMB for the whole year, doubling the amount 1.9 billion in 2004, and comprising 5% of the total volume in the whole municipality. The annual increase rate hit 5% against the 3% of 2004, doubling the target of 1% annual growth rate. A good beginning was achieved in the strategy of “doubling increase of service sector” in SIP.
The growth of trade and commerce circulation is guided by the target to build up “large market, business, and circulation” of the modern nature, shown in leisure, vacation, shopping, entertainment, and catering service facilities. A total of 650,000 square meters’ business and commercial facilities were built in 2005. Following the opening of B Zone of Riverside Plaza In September, Xingdu Center, Lake Plaza, and Bailing New World opened one after another in December. The Jinji Lake Plaza (220,000 sq.m.) and the cultural Waterside Corridor (90,000 sq.m.) are near completion, and part of the facilities is already in service. These will form a deluxe, intelligent commercial plaza combining star hotels, serviced apartments, shopping malls, catering, entertainment, leisure, fitness, and retail businesses. On the southern shores of Jinji Lake, the projects of water alley and Lord Li embankment, featuring the landscape and folk architectural traditions of the water country of the southern Yangrtze delta, are in the process of engineering planning and will be completed by the tourism festival in the coming April.
B Zone of Riverside Plaza
Jinji Lake Commercial Plaza (220,000 sq.m. in area, on the east shore of Jinji Lake)
Along with the large-scale construction projects of business projects, SIP is going all out to market for the entry of well-known domestic and international retailers. The Century Lianhua, the biggest retailer in the country, has begun its operation in the shopping mall, occupying a floor space of 26,000 square meters. International retail giants like Wal Mart of USA and Carrefour of France, the biggest house appliance retailer, National Electrical, have signed to enter SIP to join the shopping malls like Auchan, B$Q, Bairunfa, etc. A new era is being opened up in the commerce and trade in SIP.
On the west side the Jinji Lake, major commercial projects in the CBD planning, which are going on in full swing. Include the Orient Gate, U-shaped Square, and pedestrian street along central canal. A great momentum is gathering in 2006 in the great leaps of SIP commerce and trade, and a record high is anticipated for the total volume of social commodities retails.
Jan. 10, 2006