Recently, China Printing Co., Ltd., the property holder of the Guanyuan Commodity Wholesale Market ("Guanyuan Market"), which was set up in 20 years ago, officially completed the property handover with the market operator, signifying that the Xicheng District has completely bidden farewell to regional wholesale markets. A Dentons team served as the legal advisor for the property holder and provided a full scope legal assistance on this project.

Guanyuan Market closed permanently at 19:00 on September 28, 2018, following the closure of the wholesale markets around Beijing Zoo, the Tianyi market and the Wantong market.

Located in the southwest corner of Guanyuan Bridge in the West Second Ring Road, Guanyuan Market opened operation in 1998 and has been in operation for 20 years. The 30,000 square-meter market had three floors, accommodating more than 1,000 booths. The first floor mainly sold clothing, and the second and the third floor mainly sold daily necessities and cultural and sports goods.

It is reported that, according to the planning of the Xicheng District Government, in the future, the Beizhan area will be forged into a demonstration area of Beijing financial scientific innovation and professional service technology innovation. Taking advantage of its location, Xicheng district will actively adapt to the new round of scientific and technological revolution and industrial transformation, and foster strategic emerging finance businesses.

China Printing Co., Ltd. is a subsidiary of China Culture Industry Development Group. The group is a part of China Reform Holdings, which is directly supervised by the State-owned Assets Supervision and Administration Commission of the State Council. Dentons has been the legal advisor for China Culture Industry Development Group and its subsidiaries and affiliates for more than 14 years.、

The project was led by Dentons Beijing senior partner Qian Hongji, assisted by partner Wang Xingbo. During the past one and a half year, the team assisted the company in developing the closing plan, drafting all legal documents, participating in negotiations, and issuing attorney's opinion letters. Their effective cooperation with the local government facilitated the successful closure of this market.