The noun 商业 (shāngyè) means 'business,' 'commerce,' or 'trade.' It is composed of 商 (commerce/merchant) and 业 (industry/profession). It is widely used in formal contexts and often functions as a modifier, as in 商业中心 (business center) or 商业模式 (business model).
这个城市的商业非常发达。
Zhège chéngshì de shāngyè fēicháng fādá.
This city's commerce is very developed.
他们正在讨论新的商业模式。
Tāmen zhèngzài tǎolùn xīn de shāngyè móshì.
They are discussing a new business model.
市中心新建了一个大型商业中心。
Shì zhōngxīn xīnjiàn le yī gè dàxíng shāngyè zhōngxīn.
A large commercial center was newly built in the city center.