World Rating Sought for Wangfujing

As the saying goes, what's in a name? Everything ... that's if you're talking about world-famous commercial streets such as the Champs Elysees in Paris or Fifth Avenue, New York. Representatives of 14 such upscale thoroughfares were in Beijing recently to discuss opportunities for cooperation with the city's Wangfujing Street, one of China's busiest city-center shopping areas. Officially, the visitors were here to attend the 2002 Wangfujing World-Famous Commercial Streets Seminar, and publicize its attractions, according to China Daily.

Seminar topics included how a street can be turned into a city or even country landmark, and how those involved with it can handle traffic problem and matters of public security. The delegates signed the Wangfujing Manifesto, which focuses on the planning, development and construction of international commercial streets, and how exhibitions can be mounted to publicize them.

Seminar officials said development of commercial streets had been challenged mainly by the rise of supermarkets and hypermarkets; online shopping, which has dealt a heavy blow to traditional retailing; and economic globalization, which has brought foreign capital investment into the Chinese market.