China unveils 400 new shopping malls in 2023

China is projected to inaugurate about 400 new shopping malls in 2023, according to a recent report.

During the first half of this year, the average daily customer volume in shopping malls nationwide reached 18,500, marking an over 30 percent increase from the same period of the previous year, according to the report released by the China Chain Store & Franchise Association.

As of the end of 2022, China boasted approximately 6,700 shopping malls, with each covering an area of above 30,000 square meters, the report said.

The report noted that the domestic consumer market has exhibited an increased variety, with consumer habits evolving into more diverse and customized patterns.

It added that the digitized and intelligent transformation of consumption is also picking up pace, bolstered by consumers' growing emphasis on consumption scenarios and experiences.