A night view of Laowaitan, a signature pedestrian street in downtown Ningbo, East China's Zhejiang province [Photo/WeChat account: nbfb0574]

Laowaitan, a signature pedestrian street in downtown Ningbo, was recently included in the national pilot program for pedestrian street renovation and upgrading by the Ministry of Commerce. 

A total of 12 pedestrian streets across the nation made the list, Laowaitan being the only one in Ningbo. 

Also known as the Old Bund, Laowaitan is situated on the banks of the Yongjiang and Yuyao rivers and is known for its cobbled streets and decorated bars and restaurants. It is popular among foreigners and locals alike.

According to the preliminary plan released by the local government, the city will expand the scale of commercial facilities in Laowaitan to 200,000 square meters by 2021. By that time, it is expected to receive annual foot traffic of 30 million people, including 1.2 million foreigners, and its annual business revenue is expected to exceed 2 billion yuan ($289.8 million). 

The new street will start from Xinjiang Bridge at Sanjiangkou in the south and stretch to Baisha Park in the north, facing Yongjiang River in the east and Renmin Road in the west. It will cover an area of 22 hectares, with the length of the main street reaching 1,640 meters, according to the plan. 

Efforts will be made to attract new tenants and promote its connectivity with surrounding commercial complexes.

A night view of Laowaitan, a signature pedestrian street in downtown Ningbo, East China's Zhejiang province [Photo/WeChat account: nbfb0574]