News

Wangfujing Street remains vibrant shopping area

By Han Tianyang (China Daily)
Updated: 2010-09-13 08:37

Wangfujing Street, with stores housing many world-famous brands, is the commercial hub of Beijing.

Wangfujing Street in Dongcheng district is one of Beijing's oldest and most famous shopping areas.

The 810-meter-long pedestrian street is home to more than 1,000 famous brands, including Hermes, Gucci, Cartier and Armani.

Shoppers may also purchase the works of local brands such as Shengxifu, Ruifuxiang, Donglaishun and Quanjude.

The street receives more than 200,000 visitors in an average day, a figure that can easily rise to 500,000 during holidays, said government officials.

A prosperous history

"Wangfujing Street is the epitome of the business development history of New China", said the area's resident surnamed Zhao.

"In the 1950s, the street was not as wide as it is today. The most presentable building was the department store," he continued.

Wangfujing Department Store first opened on the street in 1955.

In less than three months, its sales revenue stood at 16 million yuan, leading residents to dub it the nation's No 1 store.

Staff members quickly became local celebrities. Zhang Binggui, a candy counter salesman was widely known for his ability to measure weight by hand.

Newly constructed Wangfujing Xinhua Bookstore, the then largest bookseller in the country, also became a popular stop.

And other businesses soon followed suit, opening their doors on the vibrant shopping street.

But after reform and opening-up, the 700-year old stretch of road faced a new competitive business world.

Modern adjustments

In 1992, the Beijing municipal government began building a modern international shopping center along Wangfujing Street.

The project was completed in 2001, increasing the street's commercial space from just 90,000 sq km to 360,000 sq km.

And in addition to government funded buildings, new shopping malls such as Oriental Plaza also sprang up.

Chen Dachun, a 69-year-old resident living nearby Wangfujing Street, was particularly fond of the road's red granite paving.

"It is wide, flat and clean," he said, adding that new signs were a similarly positive addition.

(China Daily 09/13/2010 page24)