Prospect has an article by Mark Kitto, founder of “that’s shanghai”, telling how he was squished by the powers that be. 

Xiang Yang market is the place to go in Shanghai to buy “watch, bags, shoes, clothes” It is right in the heart of Shanghai - prime real estate. So it is, of course, being closed and moved in favor of yet another tower block. We’ll miss it - it added color to the neighborhood. The traders have set up a website - haggling looses something in cyberspace though.