Shanghai will build a mega bookstore with an area of around 18,000 square meters in one of the city's cultural hubs, according to local authorities.
The bookstore, which is slated to start operation on April 23, 2021, in the Xuhui District, is expected to be a landmark bookstore of the city, according to a deal signed between the district government and Shanghai Century Publishing (Group) Co., Ltd.
Xuhui District is known as the origin of Haipai culture, which refers to the avant-garde but unique "East Meets West" culture from Shanghai that emerged in the 20th century.
In recent years, China's brick-and-mortar bookstores are transforming into cultural spaces amid competition from booming e-commerce platforms, which often offer cheaper prices.
Many local governments have rolled out policies to support brick-and-mortar bookstores. For example, Beijing planned to spend 100 million yuan (14.2 million U.S. dollars) in 2019 to support physical bookstores.