Wendy Zhang/ Shanghai Daily news

Price-sensitive fashion buffs can set their heart at ease as the Xiangyang Road Clothing and Gift Market will not move until at least May 15 next year, today's Shanghai Evening Post reported.
All the retailers there will end their leases with the market on November 15, but will then sign new six-month contracts, said Zhu Liankou, director with the management office of the market. "We apply to the local department for extending the land-use permit every year, and we were approved this year to continue the use-right up to July 6 next year. Therefore, except for special land development by the government, the market will not move before May 15 next year," he explained.
For the new leasing contracts, the market investors have raised most of the rents in accordance with the different locations and areas. In April of this year, lease renewals commenced to be for six-months rather than one year as previously, creating the perception that the government would move the market sooner or later. To date, no timetable has been set out for the move.