"Total retail sales declined 4.5% YoY to RMB1,021.95 billion in the first nine months of 2022. General retail sales fell 3.9% YoY to RMB946.71 billion whilst F&B sales also fell 11.6% YoY to RMB75.24 billion."

"China plans to maintain its manufacturing edge through the modernisation of its industrial sector and taking a leading role in new economy fields. This in combination with increasing investments into foundational basic sciences that will underpin long-term demand for business and science parks."

"Several renowned retail brands have increasingly set foot or expanded in Shenzhen in the last two years as the city has continued to leverage its economic resilience and strong demographics. However, the retail property leasing market has demonstrated a growing concern for the recurrent covid cases and more fundamentally, the related prevention and control measures with negative consequences for the retail operations across the board."

"Beijing Grade A office market kicked off with a weak start, as absorptions declined and the vacancy rate increased in Q1/2022. Besides, rents in major prime and sub-prime markets may rebound slightly in the short term, but rental growth in the long run is still expected to remain subdued."

"The IT sector has become the largest source of new transactions in 2021 for the fi rst time, accounting for 23% of the total newly leased area."

"Beijing’s Grade A office market is picking up, with rents and volumes rising hand-in-hand in Q3/2021. The recovery from the impact of COVID-19 has been much faster than the market expected."

"The Chengdu government released its 14th Five-Year Plan earlier this year, proposing to develop the city as a domestic and international dual circulation hub. Chengdu Tianfu International Airport started operations at the end of June 2021."

"Shanghai establishes itself as a world-class life sciences cluster, with a thriving ecosystem of established firms, start-ups, R&D institutes and healthcare providers"

"Explore our latest research report on Shenzhen Residential Market 2021 H2. It provides detailed market analysis, trends, demand, and supply."