CHENGDU - The construction of Guanghua New City, a branch of Shin Kong Mitsukoshi, the leading chain department store in Taiwan, was launched in Wenjiang District in western Chengdu in Sichuan province on Thursday.

The project involves an investment of 2.7 billion yuan ($416.6 million) and, upon completion, the department store will have a construction area of 320, 000 square meters and a parking lot with a capacity of 1, 800 cars, making it the largest department store in southwest China. The new department store will start business in 2014.

General manager of Shin Kong Mitsukoshi Steven Wu said that Chengdu is a key point in the company's expansion in western China.

Shin Kong Mitsukoshi is the largest and leading chain department store in Taiwan, providing the public with the latest international fashion, Taiwan's local unique cultural specialties, and a leisure shopping experience.