According to a report recently released by China Shopping Centre Development Association, China now has 2,812 shopping malls, a number that is likely to exceed 7,000 by 2025. Of the existing malls in China, 80% are considered ¡®large¡¯, that is the area of the mall is between 50,000 and 100,000 sq m of floor space, a stark contrast to the US, where only 20% of malls are of a similar size.
     Most of the ¡®large¡¯ malls in big cities such as Beijing, Shanghai, Guangzhou and Shenzhen were built in the past 15 years. Many of these malls are already under renovation or expansion due to demand of more facilities and competition from newly opened retail facilities in the neighborhood. The change of people¡¯s life style has also led to a new breed of shopping malls with innovative design and humanized planning. For example, malls in mixed-use developments with ample parking space tend to attract more high spending shoppers. It is also a pattern that most of these mega malls are being built along the metro lines which provide convenient access.
     Third and fourth-tier cities have a need for shopping centers smaller than those in big cities due to lower buying power. The new malls create a pleasant and comfortable environment for shoppers and people are spending more time in these complexes in general to conduct various activities.

TaiKoo Hui, Guangzhou, one of the most expensive shopping malls in China
in terms of shops rental. (Photo: Arquitectonica)