economy -- Xiangyang market definitely closed down

Wang Jianshuo confirms Shanghai's most famous market with fake products, Xiangyang market, has closed its gates on June 30 to give new to new real estate. Of course, it would go against the image the government would like to give.
In that way Xiangyang market was what soft drugs and the red light district are for Amsterdam: a major draw for foreign tourists. I wonder what is happening to the thousands of peddlers in the surrounding streets - I do not think they will move away from their loyal customers.