After 12 years, a price hike may be on the way for cheap 'Bund Water'
A bottled water sold at mobile carts on the Bund in Shanghai has remained as cheap as 1 yuan (15 US cents) for 12 consecutive years, withstanding inflation and rising costs of transport and salaries for over a decade.
Yingchun mineral water, which comes in 500ml and is produced by Pepsi, is nicknamed by tourists and vendors as "Bund Water." Its low price is unique among the country's tourist attractions. It is cheaper than water sold in supermarkets.
However, a possible price hike may be on the way. An official surnamed Zong from the Bund Administration Office told Xinmin Evening News on Wednesday that they were under pressure and are mulling an increase.
But no increase is around the corner for this year.
Bund authorities first introduced the fair-priced bottled water after the city's landmark scenic spot finished a comprehensive makeover and reopened on March 28, 2010 as a method to crack down on more and more unlicensed vendors peddling water priced at 2 yuan a bottle on the Bund who were able to rake in 50,000 yuan from May to October.
The strategy worked.
Originally, the cheap water was also produced by Coca-Cola, but it pulled out due to increasing operating costs.