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Shanghai is home to hundreds of shopping centers, and now the local government has also moved to support small specialty shops, cafes and restaurants. These little shops have turned into substantial projects for some big developers.
Developer Creator Management started renovating old buildings along Yuyuan Road in 2015, 60 percent of the project is now over. More than 30 shops now reside in these renovated old buildings. These small shops, ranging from galleries, bookstores, cafes and small specialty stores, are attracting lots of tourists with their unique atmosphere.
Wu Xinxiang has been repairing shoes at his shop on Yuyuan Road for over two decades. Earlier, his shop was just an outside stand under a tree but with help from the government, he's moved his business to a newly-renovated building, with brighter lights, fancy decorations and of course, more customers.
Lv Zhenda,deputy general manager ofthe Greater Art Community, said Yuyuan Road now has arts and services shops for nearby residents.
Media reports have brought in many tourists from other cities and even foreign countries to Yuyuan Road. We're getting more visitors than ever before, he said.
Irene Wang, head of consulting at CBRE China, a subsidiary of theworld's largest commercial real estate services firm, said that developing these blocks increases the land value, and the developers can certainly benefit from that.
According to the Shanghai Commission of Commerce, Shanghai now has 67 such special commercial areas and the city plans to permanently preserve the facade of 64 old streets, that's more than 9,000 little shops, which means more opportunities for developers, and more places to explore for Shanghai's strolling shoppers.
(CGTN)
