Long-awaited Daning Jiuguang shopping center opens

2021-11-29

JGC opens its doors in the Daning area

The long-anticipated JGC shopping center has opened over the weekend in Jing'an District, further boosting the city's "debut economy."

The city's first Jiuguang shopping mall opened in Shanghai 17 years ago in the much sought-after Jing'an Temple area in south Jing'an, soon becoming a popular commercial landmark with annual revenue ranking second among all shopping centers on bustling W. Nanjing Road for years.

JGC, the city's second Jiuguang project, has opened in Jing'an's northern Daning area. Located at 2188 Gonghexin Road, it is four times the size of the first mall, covering an area of 348,000 square meters.

It acts as a contrast to the area's lack of high-end shopping malls as well as fueling the city's "debut economy," in which businesses open their first stores and launch new products in Shanghai.

It is home to more than 400 brands, nearly 30 percent of which are companies' first stores. They include first Shanghai store of PARK by Balabala, the first Jing'an store of Adidas MEGA, and the first Daning outlet of the Michelin-starred Tim Ho Wan.

A parade is held to celebrate the opening.

Shanghai initiated the "debut economy" in 2018 in an attempt to become an international consumption hub. Since then, it has remained the best entry point for brands to enter China.

Between May 2018 and August 2020, 2,351 first stores opened across Shanghai. This means that an average of 2.4 debut locations opened in Shanghai every day. In the first half of 2021, Shanghai introduced 513 first stores, up 60.3 percent from 2020. Of them, six were global or Asian debuts, and 69 were first stores on the Chinese mainland, according to the recent report by big data service platform Dataquest China.

In Shanghai, Nanjing Road W. was most favored by debut stores, especially for overseas brands. Last year, 91 first stores opened along the road, figures showed.

An outdoor holiday fair

Source:SHINE

Editor:Yang Meiping