Wang Limei holds different opinions in this regard. "Panjiayuan market is like a culture and history museum. Many items sold here reveal thousands of years of Chinese culture. People can recall their early memories here. The market plays a good role in protecting cultural relics and traditional crafts. If it were not for Panjiayuan market, people would hardly have the chance to see these old things now."

    Alongside the rise of China's economy, more and more expats have become curious about Chinese culture. Wang Limei says that according to a rough count made at the market entrance, three to four foreign tourists entered the market every minute during the Beijing Olympic Games. Bulgarian President Georgi Parvanov bought a Buddhist artifact made of boxwood. Former French Prime Minister Jean-Pierre Raffarin scored a good bargain, buying a folding fan with a price tag of RMB 1,000 for RMB 350.

"The Business Helps Make Money"

    Rows of stores line Panjiayuan, the corners of each jam-packed with goods. Sellers always wear unconcerned expressions, sitting back and reading newspapers, drinking tea or doing their accounts. Occasionally they chat to a foreign browser in simple but fluent English. It seems that they are quite confident about expats' purchasing power.

    Most foreign visitors are curious about Chinese folk objects. Mark, an Italian tourist, spent years in China when he was young and can speak fluent Chinese. Shu Jianjun once made a seal engraved with Mark's image and name. "Many customers keep coming back over the years. That brings me considerable income," says Shu. Formerly a resident of Shanghai and Shenzhen, Shu now has his own apartment in Beijing.

    Because visitors keep coming in streams, business for every shop here is thriving. In one furniture store, a middle-aged man has just purchased a reproduction table and chairs set in a style dating from the Ming and Qing dynasties. The owner of the store says that rich people in China are keen on elegant antiques, but reproductions are much cheaper than authentic works. The rapid growth of China's economy has increased consumption not only of luxury "brand" goods, but also curios and antiques. The rich buy deluxe cars, Louis Vuitton handbags, and classic furniture. "Many cultural relics can be used as decorations in modern life. Items sold in Panjiayuan are relatively cheap, making them an economical way to enjoy elegance," says Zhou Wensheng.

    According to Wang Limei, some collectors are making money by searching out treasures. But finding the real deal among all the reproductions is dependent on their judgment. As for collecting seals, collectors must be versed in their historical background and evolution, as every seal bears the imprint of its time.

    Zhou Wensheng once bought a porcelain plate in Panjiayuan for RMB 300, which was later found to be a blue-and-white porcelain item made in the Yuan Dynasty (1271-1368), estimated to be worth at least RMB 370,000.

    While some people lose out buying fake items at high prices in Panjiayuan, others are making money. Han Liguo from Hebei Province has been earning his living by buying and selling old books for over 10 years. In 2003, he rented a place at Panjiayuan for RMB 5 a day. He purchased old books from a recycling station at RMB 4 per kilogram. Now he is running a shop in Panjiayuan, and owns an apartment in suburban Beijing.

    In one porcelain store, China Today met a very young owner in his 20s. He had a crew cut and wore an ill-fitting pair of jeans. He explained why business is thriving in the market: "Selling antiques makes money.”