Investment Rating - The report indicates a positive long-term outlook for the Chinese retail property market, despite short-term challenges due to the pandemic [4][24]. Core Insights - The retail property market in China is undergoing a comprehensive recovery post-pandemic, with a focus on quality upgrades in consumption [4][10]. - Key trends influencing the retail property market include the emergence of community commercial spaces, the rise of new consumption brands, and a growing emphasis on sustainable development [4][25][38]. Summary by Sections Current Development of Retail Properties - As of Q2 2022, the total stock of quality retail properties in 16 major cities in China reached 97.202 million square meters, with average rents at 735.5 RMB per square meter per month, a decrease of 0.9% quarter-on-quarter [4][19]. - The retail market is expected to see a gradual recovery, supported by government policies aimed at stimulating consumption [4][19]. Future Trends - Approximately 28.01 million square meters of new quality retail properties are planned to enter the market over the next three years, with Shanghai expected to have the largest supply [24][38]. - The report identifies five major trends shaping the future of the retail property market: the rise of new consumption brands, the growth of the prepared food market, the popularity of new-style baking, the emergence of green consumption, and trends in fitness consumption [43][44][49][56]. Key Market Dynamics - The report highlights the impact of favorable government policies on consumer spending, with various local governments implementing measures to boost consumption [26][27]. - Community commercial spaces are gaining traction as urbanization continues, with a focus on providing essential services within a short distance for residents [28][31]. - The report emphasizes the importance of omnichannel retail strategies, integrating online and offline shopping experiences to meet diverse consumer needs [35][36].

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report emphasizes the importance of smart cities in improving resource efficiency and enhancing the quality of life for urban residents, particularly in Shanghai, which has implemented a series of smart city development plans since 2011 [8][9][10] - The report highlights that over 300 government-approved smart city development plans exist in China, with a growing demand for smart development solutions [8][9] - The report outlines the significant role of technology in transforming urban environments and real estate markets, focusing on smart office, retail, and industrial logistics properties [12][14] Summary by Sections Summary - The report discusses the global trend of urbanization and the increasing economic significance of cities like Shanghai, which is leveraging technology to address resource scarcity and improve urban services [8][9] Introduction - The report explores how technology is utilized in urban settings, particularly in commercial properties, to create smarter cities and examines the achievements of Shanghai in this regard [12] Smart Cities Overview - Smart cities are defined as urban areas that effectively manage resources through technology, leading to reduced costs, improved performance, and enhanced quality of life [18][19] Significance of Smart Cities to China and Shanghai - By 2013, over 300 smart city development plans were approved in China, with a concentration in eastern coastal regions, and cities are increasingly focusing on integrating smart technologies into their urban planning [74][75] Technology and Smart Real Estate - The report discusses how smart real estate development integrates the latest technologies to enhance efficiency, asset value, and sustainability, with examples such as smart offices and shopping centers [10][14] Conclusion - The report summarizes the key points regarding the development of smart cities and smart real estate, emphasizing their importance for the future urban development of Shanghai [12][14]

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城市科技 智能地产成就智慧中国 2016 7 月 2 0 日 Shaun Brodie 戴德梁行中国区战略研究主管 作者 Shaun Brodie 中国区战略研究主管 +86 21 2208 0529 shaun.fv.brodie@dtzcushwake.com 2 目录 | 摘要 | 4 | | --- | --- | | 简介 | 6 | | 智慧城市⸺概况 | 9 | | 智慧城市⸺对中国的意义 | 27 | | 科技及智能房地产 | 51 | | 总结 | 75 | 3 城市 智能地产成就智慧中国 科技 摘要 4 全 球 正 处 于 城 市 化 进 程 中，中 国 也 不 例 外 。很 多 中 国 的 城 市 正 在 展 现 它 日 益 增 长 的 经 济 重 要 性，科 技 应 用 不 断 发 展，然 而 资 源 却 变 得 稀 缺 。通 过 充 分 利 用 新 科 技 和 它 所 提 供 的 解 决 方 法，智 慧 城 市 能 够更有效地提高资源利用效率。 当 智 慧 城 市投 入 运 行，它可 以 改 善 城 市 居 民的 生 活 质 量，提 高 城 市 服 务 水 平，减 少 成 本 和 资 ...

DTZ CUSHMAN & WAKEFIELD 225 F-17 得 ⚥㕂㉁⚌㖑❡Ղ蠒佖㟞霫鍒 DTZ/Cushman & Wakefield China Insight 中国商业地产 营改增详解 2016年7月18日 作 者 Shaun Brodie 戴德梁行中国策略研究部主管 +86 21 2208 0529 shaun.fv.brodie@dtzcushwake.com 目 录 引言。 商业地产- 过渡政策 -增值税改革 商业地产- 总结 1 3 5 8 䒸鎊 ⚥㕂餒佟鿈ծ㕂㹻玘⸉䚪㽷✵䎃剢傈Ⱏず〄䋒շⰢ✵Ⰼ䲀䒓蠒⚌玘佖㟞⧩ 玘霚挿涸鸑濼ո餒玘<>〿կ〿俒嚋鶣✫㟞⧩玘涸雦皾倰岁⿺銳鵳遤蠒 佖㟞涸ぐ遤⚌涸湱䎾玘桧㕃կ霪鸑濼䊺✵䎃剢傈姻䒭㹊倶կ 䊵괄䖄玘ˋꝈ고Ⲹ鵳고 蠒⚌䚪괄ˋ湬䱹䭽䚪Ꝉ㈒괄佐》 㟞⧩玘倝玘ⵖ 蠒⚌玘傊玘ⵖ 餴俱勻彂䨥䗞咿遤灇瑕鿈 㕃䨻㖑❡❡⚌涸玘桧」⻊ 1 䨻㖑❡遤⚌薴㔵 姼妃倝玘ⵖ佖ꬠ㼜嶍⿺⟄♴㉁⚌㖑❡ ⱗ㶶嚁 ㉁Ꝃ 䊨⚌㖑❡ 㕃「玘ⵖ佖ꬠ䕧ㆇ涸㉁⚌㖑❡碫㘗 ꂊ䏅⿺剪⸉㘗Ⱆ㺱 餴俱勻彂䨥䗞咿遤灇瑕鿈 2 vⱗ㶶嚁 v㉁Ꝃ v䊨⚌㖑❡ vꂊ䏅⿺剪⸉㘗Ⱆ㺱㕃կ ⚥㕂㉁⚌㖑❡Ղ蠒佖㟞霫鍒 ㉁⚌ ...

Investment Rating - The report highlights a positive investment outlook for alternative assets in the Chinese real estate market, driven by various macroeconomic and demographic factors [10][28]. Core Insights - The rise of alternative assets in China is influenced by macroeconomic trends, changing demographics, technological advancements, new lifestyles, increased sustainability awareness, and the impact of the COVID-19 pandemic [10][14][28]. - The report identifies six key alternative asset classes: biotechnology commercial real estate, experiential retail, cold storage, data centers, long-term rental apartments, and hotels [11][28]. Summary by Sections Biotechnology Commercial Real Estate - The biotechnology sector is becoming a major driver of urban economic development in China, supported by government incentives and policies [13][28]. - The demand for biotechnology-related real estate, including large biotech parks, laboratories, and office spaces, is expected to grow significantly due to increased investment in the sector [43][46]. Experiential Retail - The retail industry in China is evolving with new business models and services to meet the changing consumer preferences, particularly among the new middle class and Generation Z [71][76]. - The rise of "Guochao" (national trend) brands reflects a shift in consumer behavior, with a significant percentage of consumers preferring domestic products [72][90]. Cold Storage - The cold storage market in China is anticipated to see an increase in high-quality storage space to meet the demands of fresh produce and perishable pharmaceuticals [18][28]. Data Centers - The rapid growth of China's digital economy is expected to drive a surge in demand for data centers, as the need for large-scale data processing and storage increases [19][28]. Long-term Rental Apartments - There is a growing awareness of the importance of healthy living spaces, leading to an expected increase in the supply of health-certified long-term rental apartments [21][28]. Hotels - Changes in population structure and consumer behavior, along with a heightened focus on health, safety, and unique experiences, are key factors influencing the development of hotel assets [23][28].

中国 酒店市场 探索未来发展机遇 2022年10月 大 中 华 区 研 究 部 2 戴德梁行研究部 | 目录 | | | | --- | --- | --- | | 04 | 05 | 06 | | 摘要 | 引言 | 中国酒店市场 - 当前发展 | | 10 | 20 | 21 | | 中国酒店市场 - 未来发展 | 要点总结 | 附录 | | 23 | 24 | | | 业务联系人 | 研究团队联系人 | | 中国酒店市场 3 摘要 当前发展 参考迈点研究院（MTA）的数据，在2022年， 中国一线城市的酒店数量预计超过38,000 家。其中，北京、上海和广州的酒店数量都在 10,000家左右，深圳约为7,400家。 2020年的新冠疫情影响了一线城市的酒店 市场。但尽管如此，一线城市的新增酒店数 量仍然相当可观。 着眼2019年与2022年1-7月期间一线城市 酒店出租率、平均房价以及每间可售房收入 变化，可以看出近年酒店市场发展压力明显 增强。参考STR数据，所有一线城市的三个 市场指标均低于疫情前同期。 未来发展 首先，几个关键因素正在逐步影响中国酒店 业发展，包括： …… 因此，酒店投资者、开发商 ...

Investment Rating - The report indicates a strong growth potential in the high-end hotel market in the Northwest region of China, particularly in cities like Xi'an, Lanzhou, Yinchuan, and Xining, suggesting a positive investment outlook for the sector [6][11][51]. Core Insights - The high-end hotel market in China is experiencing rapid expansion, with a significant increase in the number of five-star hotels, reaching 651 nationwide, and approximately 500 projects under construction or planned [3][11]. - The demand for high-end hotels is driven by urban development, industrial transfer, and the rapid growth of the tourism industry, particularly in second-tier cities [3][4][11]. - The report highlights that the Northwest region's tourism industry is in its early stages but has substantial growth potential due to rich tourism resources [11][45]. Summary by Sections Market Overview - The high-end hotel market in the Northwest, particularly in Xi'an, is set to grow rapidly over the next five years, with a significant increase in new room supply [6][11]. - Xi'an currently has 19 five-star hotels and 26 four-star hotels, with a notable increase in high-end hotel development since 2010 [21][22]. Future Development - The "13th Five-Year Plan" aims to enhance the openness of the Western region, improving transportation networks and promoting tourism and cultural industries, which will benefit the hotel sector [8][9]. - Approximately 43 high-end hotels are expected to enter the Xi'an market in the coming years, intensifying competition in the high-end segment [27][60]. Consumer Trends - The primary customer base for high-end hotels in the Northwest includes business travelers, conference attendees, and tourists, with a growing emphasis on the meetings and exhibitions sector [30][55]. - The report notes that the hotel market will increasingly cater to international standards, enhancing both hardware and service quality to meet customer preferences [60]. Competitive Landscape - The report outlines that the competitive landscape for high-end hotels is becoming more intense, with many international brands entering the market, which will elevate operational standards and management practices [60][66].

关于做好当前金融 支持房地产市场 平稳健康发展 工作的通知 政策解读 受疫情扰动、经济下行、融资渠道收窄等多重因素影响， 近年来房地产行业压力持续加大。中央层面多次明确"房 住不炒"、"稳定房地产市场"、"保交楼"，对行业融 资端释放积极信号，但整体市场投融资环境并未见显著改 善，住房消费需求也整体表现疲软⸺2021 年以来全国住 宅成交逐渐陷入低迷，2022 年 1-10 月全国住宅新房成交 面积 9.4 亿平方米，同比下降 25.5%；多年来中国房价持 续攀升的趋势亦发生转折，2022 年前十个月全国住宅新 房成交均价为 10,140 元 / 平方米，同比下降 3.5%，房价 进入下降通道⸺中国房地产已然处于调整阶段。 为促进房地产市场稳定发展，持续加大对房地产行业的金 融支持力度，2022 年 11 月 11 日，央行、银保监会发布《关 于做好当前金融支持房地产市场平稳健康发展工作的通知》 （以下简称《通知》）。作为近年首份系统性支持房地产 行业发展的金融政策文件，《通知》涉及供需两侧金融支持、 存量融资展期、延长房贷集中度政策过渡期等，相关措施 亮点多、力度大且具备实操性，料将对房地产行业走出当 前困 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Major events like the Olympics significantly drive urban development, enhancing economic growth, infrastructure, and city image [5][6][10] - The 2022 Winter Olympics in Beijing focuses on industrial upgrades, sustainable development, and improving living standards, contrasting with the 2008 Summer Olympics [6][22] - Urban renewal driven by major events leads to long-term benefits, including improved infrastructure and increased investment [10][11] Summary by Sections Impact of Major Events on Urban Development - Major events catalyze urban transformation, attracting investment and talent while enhancing city competitiveness [5][10] - The hosting of the Olympics has historically led to significant infrastructure improvements and urban regeneration [11][12] Infrastructure Development - Beijing's infrastructure investment surged from 2001 to 2007, with an annual growth rate of 23.1%, significantly higher than subsequent periods [26][25] - The 2008 Olympics accelerated infrastructure development, establishing a modern urban landscape [26][27] Industrial Adjustment and Upgrading - Beijing's industrial structure has shifted from manufacturing to services, with the tertiary sector's contribution to GDP increasing significantly [30][34] - The Winter Olympics have further promoted the adjustment of industries in Beijing and its surrounding areas [38] Sustainable Development - The "Green Olympics" concept has driven significant improvements in Beijing's ecological environment, with urban green coverage rising from 36.5% in 2001 to 48.9% in 2020 [43][44] - Efforts to achieve carbon neutrality for the Winter Olympics include extensive use of renewable energy [44][45] Post-Olympic Urban Renewal - The focus of urban renewal has shifted from large-scale demolition to the renovation of existing structures, particularly in older neighborhoods [50][59] - Policies have been implemented to guide urban renewal towards sustainability and community involvement [53][57] Old Community Renovation - The renovation of old residential areas is a priority, with plans to upgrade over 1.6 million square meters of housing by 2025 [59][58] - Innovative models for community improvement, such as the "Jinsong model," have been proposed to enhance the living conditions in older neighborhoods [59]