This place is called Wangfujing because there was a well in this street in ancient times, so it was named. This very historical and ancient naming method is deeply rooted in people's hearts and it has become a very prosperous place. The flow of commercial logistics is very concentrated. After the founding of New China, Wangfujing was also a shopping center. The very famous Wangfujing department store is the first department store in China. When New China was founded, there was a shortage of materials at that time, but Wangfujing Department Store had a dazzling array of goods. After the reform and opening up, it has become a gathering place for various brands after re-planning and reconstruction. No matter what brand we want to buy, we can buy it here.
So there was a palace in Wangfujing in history, but it was not clearly recorded whose palace it was. Now those palaces have sunk into the historical ring with the footsteps of history, leaving only prosperity.