[1] The 1960s and 1970s were the heyday of the night market with booths numbering close to 200 and serving Taiwanese snacks and delicacies such as glutinous rice dumplings, oyster omelettes, fish ball noodles, and unfried spring rolls.

Two fires in 1993 and 1999 contributed to the market's decline, and in March 2001 Taipei Mayor Ma Ying-jeou ordered the demolition of Chien-Cheng Circle.

The new two-storey cylindrical glass building was designed by Taiwan-based architect C. Y. Lee and cost the Taipei city government NT$160 million in construction fees.

To promote the opening, the city government gave away 700 food-tasting coupons worth NT$100 each and organized a tour led by Chuang Yung-ming (莊永明), vice-chairman of the municipal research department and professor at the Taipei Medical University.

Taipei City Councilwoman Chen Yu-mei held a press conference on Thursday (29 June 2006) to announce the closure and called residents to visit the facility before the official closing on Sunday.

The Taipei City Markets Administration Office in a written statement on 1 July 2006 stated that the renovation project had failed to regain its competitiveness due to the building's design and also problems with vendors.