This street is named for the 10 princes” mansion and their sweet-water well that was built during the Ming Dynasty. It was forbidden in those days to dig wells at random near the Imperial Palace. According to the principles of Chinese geomancy, the position of a building or tomb in relation to its natural landscape affects the fortune of its occupants. Drilling into the earth near the emperor's home without allowances for fengSHui (wind and water) might have brought ruin to the royal family. As the only well in this neighborhood, and because it was prized as a scarce commodity, the well was closely monitored by the resident aristocracy.

The street, forever a trendsetter, has been reformed to a mostly pedestrian SHopping mall, although bus services still use the street otherwise closed to vehicular traffic.

The best-known SHop is the Beijing Department Store. To the north of the department Store is the One World Department Store, which features a collection of Chinese and foreign name brands and fine quality products. Sun Dong An Market is the largest market in Beijing with 100,000 square meters of floor area housing more than 200,000 kinds of goods.