Shanghai Nanxiang Incity Mega [Photo/jiading.gov.cn]

Despite the impact of the ongoing novel coronavirus pneumonia, the city's largest single building shopping mall was launched in Shanghai's northwest Nanxiang area, Jiading district.

With an investment of more than 3 billion yuan ($436.98 million), the 340,000-square-meter mall, officially known as Shanghai Nanxiang Incity Mega, contains more than 400 retail brands covering the areas of fashion, dining, life and social, entertainment and culture, families, health and leisure activities.

While many new shopping centers have postponed their openings due to COVID-19, SCPG will stick to its plan to open more than 10 projects in the coming two years, according to Ding Liye, partner of Vanke Group, chairman and president of SCPG.

Ding said in the past few months, the group, along with its tenants and consumers, has been working hard to get through the hardship of the epidemic, holding to a strong belief in a bright future ahead.

"Consumption must be the ballast of the Chinese economy, because it is one of the strongest engines for China's economic development. Shopping malls are one of the most direct places for consumption. Therefore, I am extremely positive about our future," said Ding.

Being a member of Vanke Group, SCPG is an investor, developer and operator of retail properties in China. SCPG operated 108 projects in more than 50 cities across China as of the end of 2019.