Qian Xiangyi is now in Qianmen Outer Street, and the main entrance is not far to the south, with frontispiece in the west and east. Its predecessor is "Hengxiang" Cloth Shop, the owner is Meng Yuxi, and the shop is located in Zhoucun, Shandong Province. Later, his son took over, entrusted Dong Lianyuan, the former assistant, with a heavy responsibility, renamed Hengxiang Dyeing House Qianxiangyi, and opened Qianxiangyi Silk Store in Beijing. Due to good management, after the establishment of Qianxiangyi in Beijing, the business was extremely prosperous, and "Qianxiangyi South" and 6500 were built in the fresh fish mouth outside the front door. After Eight-Nation Alliance invaded Beijing, Qianmen Qianxiang Old Town was burned down, and the headline outside Qianmen was rebuilt at 1909. By the end of the Qing Dynasty and the beginning of the Republic of China, Qian Xiangyi's development reached its peak. At this time, Qian Xiangyi opened more than 20 silk shops in Zhoucun, Renqiu, Shanghai, Jinan, Tianjin, Yantai, Suzhou, Hankou, Qingdao and other places, forming a huge Qian Xiangyi system, with a total investment of 4 million taels of silver, an increase of 100 times compared with the beginning of its opening, making it the largest silk cloth shop in China.

In the 1920s, the civil war intensified, the political and cultural center moved south, the Manchu nobles had already declined, most of the warlords and bureaucrats in Beijing left, the market became increasingly depressed, and Qian Xiangyi's business was not as good as before. After the "9. 18" incident, a general from Qianxiang moved from Beijing to Shanghai. By the time Japan surrendered, the operation of Beijing Qianxiang Post had deteriorated extremely. Later, the civil war, the Kuomintang government's "golden coupon" policy and inflation made the operation of Qianxiangyi reach the worst stage.

After 1949, it was a public-private partnership at that time, and Qianxiang No.1 General Store moved from Langfang Toutiao Store to Yihe Lane, which is now the location. 1978, the former Ministry of Commerce and the former Ministry of Textile Industry renamed Qian Xiangyi "Beijing Silk Store" as a window for China to spread silk culture and show the essence of Beijing silk, in view of the influence of China silk culture on the world and Beijing's unique geographical location, and considering that Qian Xiangyi is located in the bustling downtown area of Qianmen, close to Tiananmen Square, and has a century-old silk management experience. In 2000, after the shareholding system reform, Qian Xiangyi restored the "Beijing Silk Store" to Qian Xiangyi, considering historical factors and promoting Chinese culture. After the name was restored, Beijing Qianxiangyi has become one of the largest silk stores in China, and its store site has also been listed as a cultural relic protection unit in Beijing.