Beijing's famous Silk Market, or Xiu Shui in Chinese, was partially demolished yesterday evening, China Radio International reported Friday.

The demolition work is expected to be finished in late December when the new Xiu Shui Shopping Mall opens. Many of the vendors from the original site have already submitted applications for the new Xiu Shui Mall.

With the release of the news a couple of days ago, many vendors thought today was the deadline for departure. As a result, prices have gone down dramatically.