Chinese Company Acquires American Shopping Mall

WorldRich.net 09-12-24 xinhua

Toward International Trade Co., a Beijing-based private company, recently acquired a large shopping mall in the American state of Wisconsin, the biggest overseas commercial real estate acquisition for a domestic enterprise, the Jinghua Times reports.


The shopping mall, located in Milwaukee, the largest city in the Midwestern state, has an area of 188,000 square meters, which is equivalent to 26 football fields.


Cai Dongmei, the chairman of the company, said that the new shopping mall will be turned into a trading center for Chinese merchandise in North America.


"We intend to introduce 'Made in China' into the U.S. market and build Chinese brands in the U.S.," said Cai Dongmei.


According to Cai, the merchandise in the mall will be high-quality independent Chinese brands with Chinese characteristics, including electric appliances, apparel, footwear, headwear and home decoration. The first investment invitation will be launched in Ningbo, East China's Zhejiang Province, on January 1, 2010, followed by Dalian, Wenzhou, and Beijing. The mall will officially open in August 2010.




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