Qianhai to Open Two New Free Trade Shopping Malls to Provide Imported Commodities
Qianhai will have two free trade shopping malls to be opened and will be providing Shenzhen residents with imported commodities at reasonable prices. The Shenzhen Municipal Committee of Chinese People’s Political Consultative Conference had an open discussion at Book City’s CBD store in Futian, which explained fair trade rules to visitors to promote the planned Silk Road initiative.
The deputy head of the management committee, He Zijun of the Qianhai Shenzhen Hong Kong Modern Service Industry Cooperation Zone, which is the part of Guangdong Free Trade Zone, stated that the two free trade shopping malls would open in Qianhai. Also the Merchants Free Trade Mall will be occupying an area of 10,000 square meters and have five floors to open in October to sell imported products. The other mall is the Hong Kong Trading Center will be using an area of 20,000 square meters where residents can purchase imported goods with Hong Kong services.
Four imported good retail stores in Qianhai that are being runned by various business models such as cross border e-commerce, online to offline modes and bonded transactions that are meant to meet consumers demand for imported commodities ranging from cosmetics to milk powder. The new shopping malls should ease tension between mainlanders in Shenzhen residents and Hongkongers as they divert many Shenzhen shoppers used to spend Hong Kong back to Shenzhen.
Hong Kong people are frustrated with the overcrowded public transport and inflated living costs because of the large number of mainlanders that are visiting for shopping for things from over the counter drugs and baby formula.