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The Neighborhood Center to Open 12 New Networks

With the approval of SIP Industry and Commerce Administration, SIP Neighborhood Center Management Center was lately renamed into “SIP Neighborhood Center Development Co., Ltd.”, which signifies the full market operation by the neighborhood centers to be built from now on.

Ever since its founding in November 1997, the neighborhood center has become the main trend in the development of commercial service as a multifunctional service-oriented complex. The Neighborhood Center Co. has so far built 4 mansions within SIP, which embrace supermarkets, banks, post offices, F&B, hairdressers’, drugstores, and stationeries, etc., and proved to be a successful experimentation under the mechanism of “governmeht guidance, enterprise investment, and market-driven operation”. In the years to come, at least 12 such mansions are planned to be built in a rolling-on progress in SIP by the Neighborhood Center Co.

The neighborhood center has aimed at “China’s famous brand name” with plans to implement franchised business operation and management outside of SIP. Its alliance members are now spread to Tongjiang of Inner Mongolia, Xining of Qinghai, Wenzhou of Zhejiang, and Nanjing of Jiangsu Province. Lately, Kunshan Urban Construction Investment Development Co., Ltd. signed agreement with Neighborhood Center Co. to join in the alliance to clone the “neighborhood center” at the 800,000m2-Kangju Residential Area of Kunshan.

Dec. 1, 2006

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