Like the U.S., China has too many malls

Like the U.S.A., China has too many malls (4,600 in total) and not enough people to shop there, said CBRE. In Q1 2017, retail vacancy in second-tier cities reached worrying levels in some Chinese cities: 23% in Wuxi, 18% in Tianjin, 13% in Shenyang, 12% in Suzhou and in Chongqing.In first-tier cities, vacancy reached 5.2% in Beijing, 7.4% in Shanghai and 4.6% in Hangzhou. One of the most ambitious malls in China – a 500,000 sq.m GLA replica of the U.S. Pentagon completed in 2009 in...