Things are on the rise for the commerce and trade in Hailing East New City, which is located in Hailing district, Taizhou, East China's Jiangsu province.
With the emerging of new commercial complexes, large supermarkets, and new business forms, such as the first-store economy and the night-time economy, Hailing East New City has transformed greatly.
At present, the area is home to more than 10 large commercial complexes and has attracted 2,400 businesses to settle in them.
To fill the gap in the regional high-end commerce market, Zhongjia Commerce and Trade City Co Ltd has invested 560 million yuan ($81.35 million) to construct a trade center named Red Star. At present, there are 103 brands settled in the center, covering 10 commercial categories.
The sales this year is expected to hit 1 billion yuan, said company manager Wang Xiurong.
Elsewhere, Funworld Mall is the largest commercial complex introduced in Hailing, with a total construction area of 150,000 square meters. "Since its opening, I have had a new place to go for leisure and shopping, which can rival other business circles," said a local resident.
The first-store economy is one bright spot of Funworld Mall, with nearly 10 brands settling in Taizhou for the first time, covering retail, children goods, catering, and other business forms.
A panoramic view of Funworld Mall. [Photo/WeChat account: gh_4df9b5f9b40b]