COFCO held the opening ceremony for its Joy City in Shanghai on December 18, 2010. It is an important move for COFCO to penetrate into the Yangtze Delta region market.
Shanghai government officials, COFCO senior management, shareholders and tenants attended the event.
Mr. Frank Ning in his speech recognized the Joy City expansion strategy and expressed gratitude for Shanghai government’s support. He said Shanghai Joy City would be devoted to serving Shanghai people better life and fulfilling its social responsibilities.
On its first business day, Shanghai Joy City made sales revenue of nearly RMB 2.6 million, received about 90,000 shoppers and registered a total of 11,687 memebers.
It is COFCO’s second project of its kind. It is located at the core district of Suhe Bay, adjacent to the business distrct of Nanjing East Road, only 900 meters from the People’s Square. Shoppers can conveniently visit by Metro 8# and 12#. The phase I covers about 9,434 m2 with the flooring area of 68,000 m2. It is targeted at young women white collars, providing fashionable life style. It is expected to be Shanghai’s new landmark.
