Contemplations for the Revitalization of Traditional Fairs in Urban Centers: A Case Study of Weifang

China’s “traditional fair” culture has a long history. The “fairs” trade has existed for thousands of years, but its development characteristics and regional distribution have differed. The existing records of traditional fairs in Weifang city can be traced back to the Wanli period of the Ming Dynasty (1563), giving these fairs a history of more than 450 years. However, with the development of urbanization, traditional fairs in the city center have been destroyed: one traditional fair is disappearing almost every year. Based on this research background, the study first clarifies the significance of the existence of traditional fairs in modern life. Additionally, in our analysis, traditional fair culture can be extended to an “immaterial culture”. How to develop traditional fairs in existing urban centers has become one of the objectives of urban renewal activities at this stage. This paper describes the development and changes of fairs using the methods of site observation, questionnaire survey and interview, and Google Maps image comparison. The main results are as follows: (1) Fair culture is not only a geographical space but also a cultural space that is the inheritance and development of an intangible culture. (2) Traditional fairs include economic trade and social interaction activities. It is important to protect the life of traditional fairs, which carry a rich social function. (3) The living of the traditional fair is shrinking and is struggling to develop. Based on the changes in the traditional fairs space in Weifang city center over the past eight years, this paper puts forward the possibility of the development of a fair space in the existing central city space in order to preserve the traditional way of life and carry forward the traditional regional culture of fairs in urban construction.