Philippines-based shopping mall chain SM Prime Holdings (SMPH.PSE), a subsidiary of SM Investments Corporation (SM.PSE), plans to open at least eight shopping malls in China by 2010, reports Soufun.com. SM Prime Holdings signed a contract on March 19 to invest about $100 million to build a 70,000-square-meter shopping mall in Suzhou’s South Life Plaza, said the report. SM Prime has opened three malls in China, while four locations are under construction in Suzhou; Chongqing; Xiamen, Fujian province; and Zibo, Shandong province, said the company site.