| 序号 | रूना | | --- | --- | | 1 | 华润万象生活 | | 2 | 太古地产 | | | 恒隆地产 | | 4 | 九龙仓 | | 5 | 凯德投资 | | | 龙湖集团 | | | 印力集团 | | 8 | 中粮大悦城 | | | 新鸿基地产 | | S-10 | 新城商业 | | 11 | 新世界中国 | | 12 | 招商商管 | | | 百联股份 | 观点指数 政策聚焦打造多元消费场景，市场短期租赁需求释放承压商业政策上，政府通过多种方式积极构建多元消费场景，刺激消费。商业市场层面，多 个核心城市的供应节奏呈现差异化，部分城市的短期租赁需求存在一定释放压力。 高端商业业绩考验持续，大悦城私有化换取长期韧性高端消费趋于谨慎，多数企业2025上半年的零售物业收入录得同比下滑，项目运营和发展的考验并未停 止。此外，大悦城地产因行业周期、流动性等问题拟私有化退市，此举有助于长期发展，但存在不确定性。 购物中心适配热门消费需求，奥莱形态特色多样化项目层面，购物中心引入的新店中首店占比高且类型多元，国际品牌、小众特色及定制化品牌通过新增门 店、焕新升级适配消费需求，提升竞争力。奥莱表 ...

7月3日，备受瞩目的砂之船（广州）奥莱公园全球招商启动会暨海丝音乐节在广州市白云区海丝中央公园盛大举行。广州市白云区政协主席、党组书记袁东 华，广州市白云区政协副主席、大源街党工委书记鲍晓玲，广州市商务局市场处处长宁霞，副处长嵇姝，广州市商务局、对外贸易发展处副处长凌泉及相关 职能机关领导，益云集团董事长刘志远，砂之船集团总裁许军，砂之船集团副总裁曾剑征，砂之船集团助理总裁、广州分公司总经理周丽霞联袂超50家战略 品牌代表及全国媒体代表，逾500位嘉宾齐聚一堂，共同见证广州商业能级跃升与奥莱行业创新迭代的标志性时刻。 启动会上，鲍晓玲首先对砂之船（广州）奥莱公园全球招商启动会的盛大启幕致以热烈祝贺。她指出，白云区作为广州国际枢纽门户，依托空铁水陆立体交 通网络与"一带一路"的战略地位， 为商业发展提供了沃土。砂之船集团以"艺术商业 超级奥莱"模式，引入众多国内外品牌及24小时文旅业态，将为广州带 来新的商业活力。鲍晓玲还表示，期待更多优质品牌扎根白云，共享白云区的区位红利、产业活力与市场潜力，预祝本次砂之船（广州）奥莱公园全球招商 启动会取得圆满成功。 砂之船集团总裁许军在致辞中感谢了各级领导、合作伙伴、品牌 ...

Core Viewpoint - The retail sector in commercial real estate is experiencing a transformation driven by consumer promotion policies and the expansion of the duty-free economy across major cities in China, leading to increased consumer spending and inbound tourism [3][5][6]. Group 1: Retail Sector Performance - Major retail operators such as CR Land, Longfor Group, and Link REIT are showing varied performance, with some projects achieving significant growth while others struggle with older assets requiring continuous investment [3][9]. - The retail property portfolio of Link REIT in mainland China reported a total revenue and net property income growth of 29.7% and 28.9% respectively, driven by strong performance from specific projects in Shanghai and Shenzhen [9][12]. Group 2: Consumer Promotion Policies - Cities like Shenzhen, Chongqing, and Chengdu have introduced consumer promotion policies aimed at boosting local economies, with initiatives such as the establishment of new retail stores and events to attract consumers [5][6]. - The focus on green consumption and the establishment of new retail formats, such as duty-free shops in urban areas, are part of a broader strategy to enhance consumer engagement and stimulate economic activity [5][8]. Group 3: Experience and Content Enhancement - Existing retail spaces are undergoing significant upgrades to enhance consumer experience, with a shift towards immersive and engaging environments to attract foot traffic [14][17]. - New entrants in the outlet market are leveraging unique themes and experiences to differentiate themselves, such as health and wellness concepts in shopping centers [13][19]. Group 4: Cross-Border E-commerce Expansion - Cross-border e-commerce platforms like TikTok Shop are expanding into new European markets, indicating a strategic move to capture a broader customer base [30][31]. - Domestic platforms are also enhancing their international competitiveness, with initiatives like JD's collaboration with Xiaohongshu to improve conversion rates and customer engagement [34]. Group 5: REITs and Investment Trends - The approval of new consumption infrastructure REITs, such as the China Green Development REIT, reflects a growing trend towards light-asset operations and the optimization of commercial assets [35][36]. - Existing REITs are showing stable operations, with a reported cash distribution rate of 4.19% for the recently restructured Huaxia First Creation Outlet REIT [36][37].