"Despite the challenges facing the manufacturing market, demand for high-grade factories remains strong, driven by a government-led push to lead the way in new economy industries such as NEVs, solar panels, and batteries. China reigns pre-eminently in these fields while it continues to look for new industrial highlands."

"Beijing office market showed signs of recovery and performed better than expected at the beginning of 2024. After the pandemic from previous years, the overall economic has recovering steadily. Leasing demand in the Beijing office market saw a decent rebound in Q1/2024."

"Chengdu’s GDP reached RMB2207.47 billion in 2023, ranking 7th among all Chinese cities. Tertiary industry added value reached RMB1510.90 billion, up 7.5% YoY."

"Over the past 12 months, numerous media outlets have highlighted the high office vacancy rates in China’s Tier 1 cities, prompting discussions on the office overbuild and soft demand."

"Shenzhen has enjoyed abundant policy incentives offered by the central government and strong GDP growth at a CAGR of 8.7% from 2014 to 2023."

"Beijing retail market experienced a positive recovery trend and consumption boom in 2023, boosted by sufficient supply and demand after the three-year pandemic."

"The expanding supply in the Chongqing retail property market in recent years has further intensified market competition. In addition to continuing to optimize the brand and format mix, future business projects need to pay more attention to how to innovate the operation model and enhance competitiveness with higher quality services."

"The effect of the first store economy continues to ferment, attracting more new brands to open in Shenzhen, which is second to none in South China."

"Beijing office market kicked off with a slow start in 2023. The removal of COVID restrictions guaranteed business activities back to normal while enterprises resumed their leasing plans. Grade A office leasing inspections in Beijing rebounded swiftly, but it is still expected to take time for this to translate into new leases or for self-sustaining momentum to gain sufficient steam."