Parkson confident new China mall will do well

KUALA LUMPUR: Parkson Retail Group Ltd (PRG), a unit of Parkson Holdings Bhd, is confident its new shopping mall in Qingdao, China, which opens later this month, will attract strong retail interest, even as rapid economic growth in China cools down.

The Asian Development Bank has predicted the Chinese economy to grow 6.5% this year. Retail sales in the world’s second largest economy expanded 10.6% in the first two months of this year.