This article examines the ways in which lesbians’ economic and intimate lives are closely intertwined amid neoliberal development in the urban landscape. Previous research on queer urban life has primarily drawn attention to commodified gay neighbourhoods and other sites for sexual consumption, which are often marketised as part of a liberal and queer-friendly urban landscape, in Euro-American contexts. Such a focus is not adequate, however, to capture the complex interplay between intimacy and commodification in contemporary societies. Drawing upon interviews with 35 lesbians in Beijing, this study shows how the market is experienced by lesbians as a site of queer agency and vulnerability under neoliberalism with Chinese characteristics. The findings reveal ‘commodified forms of intimacy’, through which lesbians actively engage in the labour market and (queer-targeted) pink market in order to develop their intimate relations. Meanwhile, ‘intimatised forms of commodification’ illustrate how women’s gendered and sexual expressions are closely policed and evaluated in the workplace as a site of both economic production and the reproduction of social norms. Participants were conscious of their vulnerable position as women and lesbians in the marketplace, but they were active in strategising ways to navigate urban landscapes of heteronormativity and gender inequalities. This article helps to develop a deeper understanding of the complicated and contradictory impacts of neoliberalism with Chinese characteristics on queer communities. It contributes to urban sociology and sexuality studies by mapping the multiple connections between commodified relations and intimate relations in the neoliberal city.