A signing ceremony between Shanzhou district of Sanmenxia and China Outlet is held in Shanzhou on Jan 5, attended by leaders from both sides. [Photo/ha.people.com.cn]
On Jan 5, China Outlet, a new comprehensive and modern investment operator, signed a strategic cooperation framework agreement with Sanmenxia to set up China Shanzhou Ballet Outlet Town, a new commercial landmark of Sanmenxia, Henan province.
Positioned as a leading enterprise in famous brand outlets, China Outlet is expected to bring in a globally synchronized and fashionable lifestyle for consumers. The outlet town, fully integrating Sanmenxia's characteristics, will provide people with more experiential and recreational items.
With a total investment of about 4 billion yuan ($592.72 million), the three-phase project will take six years to be completed. The second phase, which focuses on outlets business, is expected to open to the public on Oct 1, 2020. The first and third phase of the project will be mainly used for residences and education respectively.
Covering shopping, food, entertainment and leisure with a total area of 830 mu (55.33 hectares), the project will bring about a revaluation of surrounding lands and attract more investment, which will in turn improve the city's quality and resident's living standards.
According to the authorities, the town will offer about 3,000 jobs and bring in about 1 to 1.2 billion yuan in annual revenue after five years of operation, as well as produce an annual tax revenue of 50 to 60 million yuan.