Two new Wanda Plazas opened on June 25 in the Jiangsu Province. A total of 45 new Wanda Plaza shopping centres will open in 2020.
After these two new plazas in Kunshan and Nantong, the Wanda Commercial Management Group plans on opening three more Wanda Plazas in July. This follows the plan set out at the beginning of 2020.
Resuming work after COVID-19
In February, General Secretary Xi Jinping laid out plans to resume work and production in order to help economic and social development after COVID-19. The Wanda Commercial Management Group, therefore, decided to open these two Wanda Plazas early.
The group implemented a variety of measures to boost store visits, sales, and consumer traffic at Wanda Plazas around China.
By the end of March, the average customer flow in Wanda Plazas had bounced back and was at 83% of the level reached in the same period last year.
Creating new jobs for college graduates
Between 180,000-200,000 jobs are expected to be created by these new Wanda Plazas. The plazas create a wide range of jobs, from store managers, to sales and security jobs.
By offering jobs to city workers of all skill ranges, Wanda Plazas can help reduce the pressure on urban employment. The two new plazas in Kunshan and Nantong have created around 8,000 jobs.
Over 50% of those jobs have gone to college graduates. Given the unemployment facing college graduates after the economic impact of COVID-19, Wanda Plazas will give 50% of its new jobs to these graduates.
Of the new jobs created at Wanda Plazas opening in 2020, this means that between 90,000 to 100,000 positions will be given to college graduates.
The retail market in the UK is slower to recover. Intu, the largest owner of shopping centres in the UK, has gone into administration. This means that buyers must be found for its 17 shopping centres.
Images: Wanda Group