New shopping malls broaden capital's consumer base

The opening of several new shopping malls in the first half of this year underlines the dynamic expansion of Beijing's commercial landscape while offering consumers exciting new options.

The Box commercial complex in Chaowai business district is one of the new sites. Catering to the younger crowd, it includes Beijing's first light projection-based basketball court, a first-level outdoor skateboard facility and a rooftop garden. As the first commercial space in Chaoyang district's Urban Innovation Center, the initial phase of The Box began trial operation in late May, attracting a daily average of nearly 10,000 visitors.

Long Street, at the heart of enormous Huilongguan neighborhood in a suburb of Beijing, was unveiled on June 30. With a total floor space of 154,000 square meters, the project is designed to be an exemplary nighttime economy-themed commercial block and is expected to stimulate industrial value and spending potential in the northern region.

Huiduo Mall in eastern Beijing, which began trial operation in June, is comprised of eight themed zones and features a children's playground that covers approximately 10,000 sq m. As reported by Beijing Daily, the 130,000-square-meter membership-based mall, which integrates shopping, catering and entertainment services, is within easy reach of nearby residential communities and benefits hundreds of thousands of residents. It includes twenty-four "first stores," as well as a slew of brand flagship outlets.

According to industry insiders, first stores serve as a symbol of a city's charms and promote innovation in business models and upgrades in consumption. They are therefore given a top priority when the emerging commercial base introduces new brands to their properties.

Beijing Daily cited a local official's comment that Huiduo Mall reflects booming confidence in the market and the momentum of urban consumption that is in full swing.

Beijing Xisanqi Mixc One, a landmark commercial complex in Haidian district that opened its doors in May after four years of preparation, showcases more than 240 brands. Of that number, 37 are firsts for Beijing or the region.

Jingxi Joy City opened on June 18 with over 200 brands — of which more than 20 percent are regional first outlets. Likewise, Grand Canal Place in Tongzhou district was launched at the end of June, with over 40 of its more than 200 shops either regional firsts or flagship stores.

Industry insiders say diverse offerings in the new malls enrich the local business ecosystem by fueling development of regional commerce, spurring upgrades to the quality of commerce in neighborhoods and boosting Beijing's drive to become an international consumption hub.

Consumers don't visit malls merely for shopping, so operators of commercial properties have targeted leisure experience as a new focus, particularly at riverside locales in the capital. As an example, the most current data indicates this year's combined sales of shops at the popular Solana shopping park adjacent to the Liangma River have registered a 190 percent surge over the same period in 2022. And according to Zhang Xiaofei, general manager of Solana, there is more room to tap into the economy of waterfront space.

"Nowadays, people no longer prefer to stay in enclosed spaces for a long time, but rather enjoy outdoor activities," Zhang told Beijing Daily. "Leveraging the advantages of waterfront locations, we will make better use of water resources for integrated development, further cultivating personalized and diversified commercial forms."

Wu Sheng, marketing director of Liangma River International Waterfront, agreed, adding: "The development of waterfront economy is a microcosm of urban renewal. The creation of waterfront projects is not just about tourism, but about integration with the city as a whole."

Yang Qingsong, secretary-general of the China Commerce Association for General Merchandise, told Beijing Daily the night economy in the riverside areas has brought together a large number of catering, entertainment and shopping establishments.

"These places are usually located near the water and have a beautiful environment, making them a great place for people to relax and spend their leisure time," Yang said. "Therefore, the development of water-based economy is of vital importance for Beijing to build itself as an international consumption hub city.

"It can drive commercial development, promote tourism prosperity and become an important area for the integration of culture, commerce, tourism and sports in Beijing.