Liulichang Street was once a flourishing cultural centre during the Ming and Qing dynasties (1368-1911). This was where scholars, painters and calligraphers gathered to purchase materials, exchange ideas, compose poetry, write books and paint. 

In the modern age, the street has been transformed into an antique market that resembles a Chinese village. The shops that flank the street are filled with genuine and convincing imitation paintings, calligraphy, pottery, carpets, vases, books, scrolls and chops. All genuine antiques purchased here can be taken out of China as they have been authenticated by experts and certificates are available in the stores. 

Antique displays along the street distinguish this event from many similar traditional ones. Though it is a small street with only 10 or so houses, each year during the Spring Festival, along with the adjacent Xinhua Road, the Jade Emperor Pavilion and the Shatu (Sandy Soil) Gardens, the street transforms into a large market. Every year from the first day to the 15th day of the first lunar month, the temple fair held here is crowded. Main activities include a folk customs show, theatrical performances and demonstration of handicrafts.