Beijing's Largest Wholesale Market (Tianyi Market) to Close Next Week

By Justine Lopez, September 6, 2017

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The iconic Tianyi Market will officially close its doors on September 16. Tianyi is just the latest Beijing-based market to be forced to close up shop in the wake of the capital's efforts to cap its population and move non-essential businesses to Hebei.

The market has been operating for 25 years and is the largest wholesale market in the capital. However, Tianyi Market is just one of many that has been forced to close in the past year. In July, the Beijing Zoo wholesale market was also called it quits.

The local government is planning on closing all wholesale markets located within the Fourth Ring Road by 2020.

All vendors at Tianyi Market will reportedly be compensated by the market and relocated to Hebei.

"I have not found a new market to continue my business, but I think I will take a rest and then find a new market to do business in the future," said one Tianyi Market vendor.

With the closing date less than two weeks away, many vendors are slashing prices and holding sales to get rid of their inventory.

Once closed the area will be home to technology and finance focused businesses.

[Image via]

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