Situated at the intersection of Binjiang and Peace streets, Quanyechang is an old commercial establishment built in 1928 by a man named Gao Xingqiao. lt has seven storeys and 24,000 square metres of floor space. As it is located in the former French concession, it was named the French Bazaar at first and renamed Business Encouraging Bazaar later. In those days, four vertical scrolls hanging there stating the purpose of operating the bazaar, which read:"An advice to my compatriots: Success in business comes from diligence, when business develops, benefits double."

Before the 1950s, there were more than 240 shops in the bazaar, dealing in silk and satin, clothing, hats, shoes, pearls, gems, gold and silver jewellery, paintings, calligraphic works, and books. It had an amusement section attached to it and was a business establishment well known both in China and abroad.

A large-scale renovation was carried out in 1994, which expanded the shopping centre's business area to 36,000 square metres in floor space. The 10-storey building is now equipped with 18 elevators in addition to a music fountain. Quanyechang takes the working people as its main customers and focuses business on middle-class commodities. The shopping centre receives 200,000 people each day (300,000 on a holiday) and its sales volume has reached 130 million yuan per month.