Zhongshan Park area set for major retail expansion

By Nie Xin  |   2008-7-12  |     NEWSPAPER EDITION

THERE are ambitious plans to expand the Zhongshan Park commercial area into a discount electronic goods retail hub to rival the world-renowned Akihabara district in Tokyo.

Akihabara is known as "electric town" and has streets dedicated to stores selling a range of the latest cutting-edge gadgets, and Shanghai residents could have a similar sprawling retail center in the coming years.

Officials from the Changning Economic Commission revealed the plans for the new development project at a recent seminar.

The high-powered seminar included leading Shanghai academics and the leaders of more than 30 companies operating in the Zhongshan Park area.

The plan will continue the strong growth of the area over the past decade.

Over the past 10 years, the area has become a center for commercial, residential, educational, leisure and entertainment activities.

Zhongshan Park area is one of the three economic zones in the Changning District.

The area covers 1.14 square kilometers, bordered by Jiangsu Road in the east, Yan'an West Road in the south, the Inner Ring Road in the west and stretches as far north as Suzhou Creek.

As one of the most important transport hubs in Shanghai, the area is covered by an extensive bus service and Metro Lines 2 and 3 that cater for 500,000 passengers daily.

Last year the area's seven biggest retailers reported sales of more than 31.73 billion yuan (US$4.63 billion). This is almost three times the total sales generated by all the retailers in the area in 2000.

The Zhongshan Park area is a well-known shopping area for electrical appliances, with two big electronic goods retailers Gome and Suning setting up outlets there in the last five years.

The American chain Bestbuy is also considering establishing an outlet in the area.