(Yicai Global) Sept. 15 -- To reduce non-capital functions of Beijing, the most renowned wholesale market in China's capital, Tianyi Wholesale Market, will close on Sept. 16.

Most of the retail stores in Tianyi Wholesale Market have started special sales campaigns in the run up to the closure. Prices for many items are as low as CNY10 (USD1.52) and CNY20 and in many cases, they are lower than Taobao online prices. The campaign has led to a sales peak for most of the stores, Jiemian.com reported today.

Established in 1992, Tianyi Wholesale Market is the largest commodity wholesale and retail market in Beijing. There are more than 1,550 stores in the market, which sell more than 60,000 kinds of commodities.

As a megapolis with over 20 million inhabitants, Beijing has to undertake extra functions to deal with such issues as high population, serious traffic jams and environmental pollution. As a capital, Beijing carries out specific functions in the spheres of economy, military and transportation. Reducing non-capital functions involves devolving urban functions to help relieve pressure over the capital.