Economic review

Traditional electronics market says goodbye to Beijing's tech hub

2018-05-16 11:21:00 (Beijing Time)         Ecns.cn

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Workers demolish Guang'an Zhonghai Electronics Market at Zhongguanchun, Beijing. (Photo/Beijing Evening News)

(ECNS) - Authorities have started demolishing Guang'an Zhonghai Electronics Market, the last wholesale market for used computer parts, cellphones and accessories along Zhongguancun Avenue, a technology hub in Beijing's Haidian District.

The two-floor market, located on the northwest corner of a major bridge over the 4th Ring Road, was established in 1998 and home to more than 400 shops at its peak. Once a bustling market to buy almost any kind of electronic product at negotiable prices, the area is also notorious for its heavy traffic.

Chen Guoqi, deputy director of the Zhongguancun West Zone Management Committee, said the market affected a side road of the 4th Ring Road during rush hour and made the surrounding environment chaotic.

The demolition will take approximately a month. Later this year, a park of approximately 4,000 square meters will be built at the former site.

Authorities have for years made efforts to transform the central, crowded Zhongguancun Avenue from "electronics avenue" into a center for science and technology startups. In recent years, other wholesale electronics markets have undergone renovations to accommodate a need for office space.