Yangzhong Street, Shopping Street in Guangzhou

Yangzhong Street, a small lane in Guangzhou selling quality accessories, is very popular among overseas tourists. it is said that in Southeast Asia people hold up their thumbs upon mentioning it.

"This lane is narrow, but it attracts a lot of foreign customers," said Mr. Wu, who is engaged in wholesale of cosmetics and accessories. Over the past 17 years he has witnessed how this small lane has developed into an accessory wholesale market. Many foreign merchants frequent this market. At the beginning, they have to be accompanied by an interpreter, and later they come here just with a calculator.

There are more than 400 stores on Yangzhong Street. The monthly transactions of some big stores exceed 10 million yuan. According to some store owners, there are two kinds of foreign customers. One are merchants, the other are tourists who come here to buy gifts. Those who come here personally are often small merchants, since big merchants now prefer to do business through fax or money order.

A store owner who deals in wigs said that around 1995 quite a number of merchants came from Southeast Asia. After the Asian financial crisis occurred, American, Canadian and Australian merchants have kept increasing. He has gained an understanding of the psychology of these foreigners. In general, European and American merchants ask detailed questions; once they decided to make a deal, they will purchase in bulks. Southeast Asian businessmen are good at comparing goods and bargaining.

A Japanese likes to buy watches here. Each time he comes here he buys dozens of watches. He said watches from Guangzhou are both inexpensive and of fine quality. Once he bought a watch from here. Back in Japan, many of his friends, after knowing the price, ask him to buy for them. He cannot refuse them.