Located near the city center in Dongcheng District, the commercial street is one of four most prosperous business zones in Beijing. It is 1 mile (1,600 meters) long ranging from Changan Avenue in the south to National Art Museum of China in the north. With a history of 700 years around, it got the name Wangfu (royal mansion) Jing (well) because there used to be eight royal mansions and a well with sweet water on the street. Currently, it is the busiest street in this city and there are 600,000 people every day come and go and on holidays, the number can rise to 1,200,000. As the first famous business zone in this city, the street houses a wide variety of shops and boutiques, some of which are of world-famous brands. Apart from that, there are also many time honored stores with traditional commodities standing in the street for hundreds of years. Nowadays this street is a modern commercial street which can be paralleled with Champs-Elysees in Paris.