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Bookstore gets new lease of life
By Angela Xu |
January 7, 2009, Wednesday
|
Print Edition
Print Edition
THE popular Jifeng Bookstore in the Shaanxi Road S. Metro station is to stay open after successful rent negotiations, according to an industry source.
The Metro property management company has offered the bookstore a discount, according to a local newspaper the Daily News.
Yan Bofei, general manager of the bookstore, said the contract renewal hadn't yet been signed but the Daily News quoted an insider as saying Shanghai Shentong Metro Group Co Ltd was offering to rent half the area at 6 yuan (88 US cents) per square meter a day, the original rent 10 years ago, and the other half at current rates, believed to be below 20 yuan per square meter a day.
It had been feared that Jifeng might close when its 10-year contract expired at the end of last year and store officials had been negotiating with Shentong managers in order to keep the rent affordable.
Jifeng is known for its wide selection of titles and allowing customers to browse and read books at the store's cafe. Cultural events are also a major attraction.
The writer Zhang Hong once described the bookstore as a "small spiritual space in the material forest."
The Metro property management company has offered the bookstore a discount, according to a local newspaper the Daily News.
Yan Bofei, general manager of the bookstore, said the contract renewal hadn't yet been signed but the Daily News quoted an insider as saying Shanghai Shentong Metro Group Co Ltd was offering to rent half the area at 6 yuan (88 US cents) per square meter a day, the original rent 10 years ago, and the other half at current rates, believed to be below 20 yuan per square meter a day.
It had been feared that Jifeng might close when its 10-year contract expired at the end of last year and store officials had been negotiating with Shentong managers in order to keep the rent affordable.
Jifeng is known for its wide selection of titles and allowing customers to browse and read books at the store's cafe. Cultural events are also a major attraction.
The writer Zhang Hong once described the bookstore as a "small spiritual space in the material forest."
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