Silk Street

Many of the stalls have, over the years, gained local and international reputation for selling counterfeit luxury designer brands at relatively low prices.

After 20 years of business, the old market was ordered to close down for demolition on January 6, 2005, due to fire-safety hazards, security issues and the absence of land permits from individual landlords.

Opened on March 19, 2005, and replacing the old alley-based Xiushui Market, the current Silk Street establishment has diversified their business scope.

In addition to selling fashion apparels and accessories such as hats, handbags, shoes, belts, sportswear and silk fabrics like their predecessor, the new Silk Street has introduced traditional Chinese handicrafts, antiques, calligraphy, carpets, table cloths, bed coverings, paintings, hand-knit dresses, toys, electronic gadgets, trinkets, and fine jewelry.

As a result, five global brand-name giants, which included Prada, Chanel, Louis Vuitton, Gucci and Burberry were granted compensation of 20,000 yuan (US$2500) each from the landlord and five of its stall holders on April 14, 2006.