China Square proprietor Lei Cheng on Tuesday, March 14, revealed how the government has benefitted from the establishment of his megastore in the country.
Appearing before the National Assembly Committee on Trade, Industry and Cooperatives, Cheng revealed that the mall helped lower the cost of living for its citizens
He revealed that a market study he conducted in 2016 revealed that Kenyans were suffering from high costs of basic commodities.
"We are firm believers in making life affordable to citizens and that calls for reasonableness in making decisions on pricing," the businessman told the Members of Parliament.
His lawyer Thomas Letangule explained that against the high rate of unemployment in the country, China Square directly created 150 jobs for Kenyans including shop attendants, tellers and other members of its staff.
Letangule also revealed that since the official opening of the shopping centre, the enterprise has remitted Ksh100 million in taxes to the National government.
Apart from tax, it has helped Kenyatta University generate revenue in terms of rent as Unicity Mall had remained predominantly vacant until China Square set up shop. Its presence increased traffic in the mall, hence attracting other investors.
Cheng told the committee that it was committed to promoting the local manufacturing industry. He intimated that 30 per cent of goods sold in the mall are sourced locally.
The other goods are imported from China and Turkey, which earns the government foreign exchange. However, the businessman refuted allegations of engaging in unfair business practices.
"Our prices are not lower than those offered in Eastleigh and Kamukunji markets. We have no intention of driving anyone out of the business hence we chose an area outside the city," Cheng stated.
Consequently, he begged for protection, citing that he had a similar store in South Africa but did not experience any indifference from the locals.
During the meeting, MPs questioned China Square for not registering with the Kenya Investment Authority and the Chinese Chamber of Commerce.
While Starehe lawmaker Amos Mwago and Gichugu's Robert Gichimu wanted the store closed over the same, committee chair James Mwangi allowed Cheng seven days to secure the documents.
