Wanda Plaza at Hanjie Closes for Upgrades

This is an anecdote from on the ground in China. There's a popular shopping street called Hanjie, filled with lots of international brand stores and local shops. The Wanda Plaza is next to the street and has a huge movie theater along with many shops and restaurants. From what I hear, many shops on Hanjie have not reopened or closed. Now the Wanda Plaza is closing for upgrades, I suspect because it's making the best of a bad business environment. Even though Wuhan was quick to reopen and they were celebrating big crowds in the summer of 2020, the full recovery from Wuhan's total lockdown will take longer than expected. Also, the economic conditions in China may be worse than the markets realize.

163.com: 突发！汉街万达广场将闭店停业！

According to the "Closed Store Announcement", in order to meet the new market environment changes, improve service quality, and conform to the city's plan to create a new first-tier city, Wuhan Hanjie Wanda Plaza will close its store at 22:00 on August 31, 2021 .

After the closure of business, our company will start the overall upgrade plan of the square.