Roof beam marks milestone in Jiuxing renewal
The renewal project in Jiuxing Village of Minhang District is proceeding at full speed.
The renewal project in Jiuxing Village of Minhang District is proceeding at full speed and is expected to be fully completed by the end of this year.
As the last roof beam of the No. 6 Building of Jiuxing Village was concreted, the nine buildings of the former biggest commercial village in China have now had their major structures capped on December 18 last year. The commercial village renewal project is expected to start trial operation in May 2025.
Jiuxing Village is situated in the southwest of Shanghai. To its east is the Caohejing High-tech Park and in its north is the Hongqiao International Hub. Traffic in the village is convenient as the Outer Ring Road of Shanghai cuts through the village.
In the late 1990s the average annual income of the villagers was low. The village chief then decided to guide its residents through a village-owned commercial market development strategy and launched five wholesale markets in succession for hardware, food, dry goods, plywood and agriculture products.
Within a decade of its market-oriented development, the village generated more than 500 multimillionaires.
In 2017 the old Jiuxing commercial village was dismantled.
Starting from 2023 construction of the new village progressed with flying colors. The investment recruitment is also forging ahead. By mid December 2023 it had launched seven investment recruitment meetings, with nearly 1,000 companies and business entities, new and old, participating. Among them 300 had expressed their intention to sign settlement contracts.
The new Jiuxing commercial village will be cultivated into a one-stop global home furnishing and building materials trading complex, supported by import goods trading, children's consumption, headquarters economy and other services.
