Quiapo is referred as the " Old Downtown " where tiangges , markets , botique shops , music and electronics stores are common . C.M. Recto Avenue is where lots of department stores are located . One of Recto Avenue 's famous destination is Divisoria , home to numerous shopping malls in the city . It is also dubbed as the shopping mecca of the Philippines where everything is sold at bargain price . Binondo , the oldest Chinatown in the world , is the city 's center of commerce and trade for all types of businesses run by Filipino @-@ Chinese merchants with a wide variety of Chinese and Filipino shops and restaurants .