Shanghai's Champs Elysees takes a turn for the better
No need to drive to the outskirts because a bonded exhibition of luxury items is coming to downtown Shanghai.
The exhibition will take place in Zhangyuan, or Zhang's Garden, in Jing'an District, when its highly anticipated urban renewal project partially opens later this year.
Lying south of Nanjing Road W. and hailed as the local answer to Paris' famed Champs Elysees, Zhangyuan is undergoing a major facelift from an old shikumen (stone-gate) neighborhood to a modern commercial landmark where dozens of historical buildings will be converted into boutiques, restaurants and art galleries.
Moreover, an area will be zoned for a permanent bonded exhibition of luxury goods, including priceless watches and jewelry that haven't been put on shelves in the domestic market, Shen Hong, director of the Jing'an Commerce Commission, told Shanghai Daily.
"It will spruce up the whole area and stimulate people to make purchases as well," Shen said.
People will be able to place orders and get the goods once duties are paid, no longer having to travel to the free trade zone or wait for imported goods from overseas.
"Downtown Shanghai needs such a place to debut and sell luxury items. Zhangyuan hopes to play a leading role in stimulating consumption," Shen said.
The first Alila urban hotel on the Chinese mainland will be located close to Zhangyuan.
Just next door to Zhangyuan, another major urban renewal project has also begun.
The site at 500 Weihai Road was once home to the first Four Seasons hotel on the Chinese mainland. A new commercial complex with a total investment of 1 billion yuan (US$147 million) is now taking shape, featuring the first Alila-branded urban hotel on the Chinese mainland.
