| Goodbye Xiangyang Market; Hello Taobao City |
| 2006-12-22 |
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 Shanghai's infamous Xiangyang flea market closed on June 30, but shoppers will soon have a new market to find the deals. An offline mall for online sellers of Alibaba's consumer-to-consumer (C2C) site Taobao will open in Shanghai in August, reports Chongqing Business Daily. The report quoted Taobao insiders saying that Taobao signed a contract with shopping mall operator Shanghai Hancheng Enterprise Management Company and that the shopping center will be named Taobao City ('Taobao Cheng'). Taobao will not be involved in the mall's daily operations and will receive 10 million Yuan a year from the mall operator for the right to use the name.
The name Taobao City has already been put up at the shopping center, which is located on Nanjing West Road. The shopping center has room for 300 stores on three floors, with a total area of 12,000 square meters. Taobao sellers will receive a 40 percent discount on rent, which comes out to about 180 Yuan per month. Broadband Internet access is available in each store, allowing sellers to conduct their online businesses at the same time.
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