Shanghai invests 320m yuan on new flagship bookstore

Shanghai on Thursday announced the investment of 320 million yuan (about US$45.3 million) on a new, giant flagship bookstore project -- The Light of Shanghai.

The bookstore, with a total floor space of some 18,000 square meters, will be built in Shanghai's downtown commercial hub Xujiahui, an iconic place in the city that is closely connected with Xu Guangqi, a well-known scientist in China's Ming Dynasty (1368-1644).

Fang Shizhong, head of the Xuhui district government, said investing in such a super-large public reading space will help build an urban cultural landmark.

The new bookstore is jointly constructed and operated by the Xuhui District government and Shanghai Century Publishing (Group) Co Ltd and is expected to open one year later on World Book Day in 2021 to celebrate the 460th anniversary of Xu's birthday, Fang added.