Macroeconomic Stability Strengthens the Foundation for Commercial Real Estate Stabilization<\/b> <\/p>\n
China’s core economic targets for 2026 are clearly defined, with GDP growth set between 4.5%\u20135%, balancing the dual objectives of stabilizing growth and adjusting structure. This forms a strong macro foundation for the stabilization and gradual recovery of the commercial real estate sector. Between 2024 and 2025, GDP growth remained steady at around 5.0%. For 2026, the fiscal deficit ratio is maintained at a relatively high 4.0%, with RMB4.4 trillion in local special\u2011purpose bonds. The quota for ultra\u2011long\u2011term special treasury bonds is further expanded to RMB1.3 trillion. Coordinated fiscal and monetary policies will continue to support leasing demand recovery and improved business sentiment in the commercial property market. <\/p>\n
Accelerated Industry Transformation Sees Quality Enhancement of Existing Assets Become the Core Theme<\/b> <\/p>\n
The report emphasizes a three\u2011pronged approach of “city\u2011specific policies to control new supply, reduce inventory, and improve quality”, while encouraging diverse channels to revitalize existing housing stock and advancing the construction of “good homes.” This marks an accelerated shift from incremental expansion to quality enhancement of existing assets. In 2024, China’s real estate value\u2011added as a proportion of GDP was just 6.3%, far below the 12.56% average of developed economies. This reflects a structural imbalance characterized by heavy investment in development and insufficient focus on services and leasing. The ongoing transition will make asset management, property services, and leasing operations increasingly central to asset valuation. <\/p>\n
Consumption\u2011Driven Momentum Creates a New Growth Window for Retail Properties<\/b> <\/p>\n
Consumption\u2011boosting policies are injecting new vitality into the retail property market. The government work report allocates RMB250 billion of ultra\u2011long\u2011term special treasury bonds to support product upgrades and replacement, complemented by RMB100 billion in coordinated fiscal\u2011financial funds \u2014 creating a RMB350 billion consumption stimulus package. In 2025, China’s total retail sales of consumer goods exceeded RMB50 trillion, with per\u2011capita GDP reaching USD13,953, signaling a critical inflection point where service\u2011oriented consumption accelerates. With services currently accounting for just 46.1% of consumption, there remains significant room for growth. Policies promoting “high\u2011quality service consumption” and “new consumption scenarios,” combined with the promotion of staggered school holidays in spring and autumn, will create opportunities for high\u2011quality shopping centers focused on experiential and social retail formats. <\/p>\n
AI\u2011Powered Intelligent Economy Drives an Upgrade in Office Market Demand<\/b> <\/p>\n
The rapid evolution of the intelligent economy is reshaping office market demand. The work report calls for expansion of “AI+,” wider deployment of intelligent agents, and accelerated development of large\u2011scale computing clusters, indicating the transition of AI into commercialized and scaled applications. In 2025, China’s core digital economy industries accounted for more than 10.5% of GDP, with the target set at 12.5% during the 15th Five\u2011Year Plan. AI\u2011related companies are expected to become key new leasing drivers in 2026. This will also stimulate a fresh investment cycle for data centers and industrial parks, with core computing hub cities \u2014 in the Beijing\u2011Tianjin\u2011Hebei region, Yangtze River Delta, and the Guangdong\u2011Hong Kong\u2011Macao Greater Bay Area \u2014 set to benefit first. <\/p>\n
Capital Market Reforms Expand, Enabling a Full “Investment\u2013Financing\u2013Management\u2013Exit” Cycle for Commercial Real Estate<\/b> <\/p>\n
Capital market reforms continue to support expansion in commercial real estate investment. The work report calls for deepened reform of comprehensive investment and financing mechanisms, expanded exit channels for private equity and venture capital, and accelerated growth of the public REITs market. By 2025, China’s public REITs issuance exceeded RMB210 billion, making it the largest REITs market in Asia. In 2026, commercial public REITs enter their first year of development, with pilots extended to hotels and commercial offices. This establishes a “dual\u2011engine” landscape of “infrastructure + commercial real estate” and enables a more complete investment\u2011financing\u2011management\u2011exit cycle <\/p>\n
Further Opening\u2011Up Boosts Cross\u2011Border Logistics and Foreign Investment Demand<\/b> <\/p>\n
China’s opening\u2011up objectives in 2026 feature two core characteristics: expanding services sector openness to attract foreign investment, and promoting standardized, high\u2011quality development of cross\u2011border e\u2011commerce. In 2025, China’s cross\u2011border e\u2011commerce imports and exports totaled RMB2.75 trillion, with growth outpacing overall trade for the fourth consecutive year. The sector’s demand for high\u2011specification warehouses \u2014 characterized by high density and rapid turnover \u2014continues to rise. Cushman & Wakefield data shows that the warehouse market is experiencing volume growth alongside price adjustment, with notable regional differences. As cross\u2011border e\u2011commerce becomes more regulated, and cold\u2011chain logistics demand continues to expand, green\u2011certified, intelligent high\u2011spec warehouses are expected to gain a competitive advantage. <\/p>\n
Advancement of New Urbanization Brings Opportunities for Urban Clusters and Urban Renewal<\/b> <\/p>\n
A notable highlight among 2026 urbanization policies is the first\u2011ever proposal to build “innovation\u2011driven industrial communities and business communities.” This concept breaks the traditional boundary between industrial parks and business districts, fostering integrated complexes that combine office, commercial, and residential functions. The report also supports the development of world\u2011class city clusters in the Beijing\u2011Tianjin\u2011Hebei region, the Yangtze River Delta, and the Greater Bay Area, while enhancing the dual\u2011city Chengdu\u2011Chongqing Economic Circle and accelerating growth in the middle\u2011Yangtze city cluster \u2014 further intensifying regional differentiation in the commercial property market. Urban renewal and revitalization of existing stock assets are core pillars of the current urbanization strategy. Policies promoting the reuse of existing land and idle buildings align closely with efforts to revitalize existing housing stock. For owners and operators of prime urban assets, regeneration projects offer strategic opportunities for repositioning and value enhancement. <\/p>\n
Green Transformation Prompts Sustainability Certifications to Become a Key Competitive Advantage<\/b> <\/p>\n
The work report dedicates a standalone section to the green transition, announcing dual controls on total carbon emissions and intensity, as well as new policy tools such as zero\u2011carbon parks and a national low\u2011carbon transition fund. In 2025, China’s national carbon market saw 235 million tons of allowances traded, with transaction value reaching RMB14.63 billion, up approximately 24% year\u2011on\u2011year. Carbon costs have become an increasingly important factor in corporate leasing and location decisions. With 97.9% of newly built urban buildings in 2024 meeting green standards, green retrofits of existing buildings are gaining momentum. Commercial properties certified under LEED, WELL, and China’s Green Building Label standard enjoy notable advantages in rental premiums and tenant attraction. <\/p>\n
Sabrina Wei, Chief Policy Analyst and Head of Research, North China, Cushman & Wakefield, <\/b>said, “The 2026 government work report outlines a clear development vision for commercial real estate characterized by macroeconomic stability, targeted policies, and structural transformation. A GDP growth rate of 4.5%-5% will provide market stability, a RMB350 billion consumption stimulus will activate demand for retail properties, “AI+” will reshape the office market; capital market reforms and public REITs will enable a full “Investment\u2013Financing\u2013Management\u2013Exit” cycle, urban renewal will unlock values of existing assets, and green certification will define new competitiveness for the industry. As the real estate industry transitions from a construction\u2011focused model to one centered on operations and services, institutions with strong capabilities in asset management and high\u2011quality operational service delivery will be best positioned to capture the emerging opportunities of this transformative new cycle.” <\/p>\n
To access the full report please click here<\/a>. The issuer is solely responsible for the content of this announcement.<\/p>\n\n Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles<\/i>, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit <\/p>\n HONG KONG SAR – Media OutReach Newswire<\/a> – 20 March 2026 – Global real estate services firm Cushman & Wakefield has released its China’s Two Sessions 2026: Interpreting the Government Work Report<\/i> publication. Against a backdrop of increasingly complex domestic and international conditions, the 2026 government work report outlines more flexible and adaptive targets for national economic development. These policy directions will have a profound influence on the real estate sector. The market’s transition from focusing on incremental expansion to revitalizing and optimizing existing assets \u2014 combined with the accelerating integration of artificial intelligence across industries \u2014will reshape market structures, redefine asset values, and reconfigure spatial development patterns in far-reaching ways. <\/p>\n Macroeconomic Stability Strengthens the Foundation for Commercial Real Estate Stabilization<\/b> <\/p>\n China’s core economic targets for 2026 are clearly defined, with GDP growth set between 4.5%\u20135%, balancing the dual objectives of stabilizing growth and adjusting structure. This forms a strong macro foundation for the stabilization and gradual recovery of the commercial real estate sector. Between 2024 and 2025, GDP growth remained steady at around 5.0%. For 2026, the fiscal deficit ratio is maintained at a relatively high 4.0%, with RMB4.4 trillion in local special\u2011purpose bonds. The quota for ultra\u2011long\u2011term special treasury bonds is further expanded to RMB1.3 trillion. Coordinated fiscal and monetary policies will continue to support leasing demand recovery and improved business sentiment in the commercial property market. <\/p>\n Accelerated Industry Transformation Sees Quality Enhancement of Existing Assets Become the Core Theme<\/b> <\/p>\n The report emphasizes a three\u2011pronged approach of “city\u2011specific policies to control new supply, reduce inventory, and improve quality”, while encouraging diverse channels to revitalize existing housing stock and advancing the construction of “good homes.” This marks an accelerated shift from incremental expansion to quality enhancement of existing assets. In 2024, China’s real estate value\u2011added as a proportion of GDP was just 6.3%, far below the 12.56% average of developed economies. This reflects a structural imbalance characterized by heavy investment in development and insufficient focus on services and leasing. The ongoing transition will make asset management, property services, and leasing operations increasingly central to asset valuation. <\/p>\n Consumption\u2011Driven Momentum Creates a New Growth Window for Retail Properties<\/b> <\/p>\n Consumption\u2011boosting policies are injecting new vitality into the retail property market. The government work report allocates RMB250 billion of ultra\u2011long\u2011term special treasury bonds to support product upgrades and replacement, complemented by RMB100 billion in coordinated fiscal\u2011financial funds \u2014 creating a RMB350 billion consumption stimulus package. In 2025, China’s total retail sales of consumer goods exceeded RMB50 trillion, with per\u2011capita GDP reaching USD13,953, signaling a critical inflection point where service\u2011oriented consumption accelerates. With services currently accounting for just 46.1% of consumption, there remains significant room for growth. Policies promoting “high\u2011quality service consumption” and “new consumption scenarios,” combined with the promotion of staggered school holidays in spring and autumn, will create opportunities for high\u2011quality shopping centers focused on experiential and social retail formats. <\/p>\n AI\u2011Powered Intelligent Economy Drives an Upgrade in Office Market Demand<\/b> <\/p>\n The rapid evolution of the intelligent economy is reshaping office market demand. The work report calls for expansion of “AI+,” wider deployment of intelligent agents, and accelerated development of large\u2011scale computing clusters, indicating the transition of AI into commercialized and scaled applications. In 2025, China’s core digital economy industries accounted for more than 10.5% of GDP, with the target set at 12.5% during the 15th Five\u2011Year Plan. AI\u2011related companies are expected to become key new leasing drivers in 2026. This will also stimulate a fresh investment cycle for data centers and industrial parks, with core computing hub cities \u2014 in the Beijing\u2011Tianjin\u2011Hebei region, Yangtze River Delta, and the Guangdong\u2011Hong Kong\u2011Macao Greater Bay Area \u2014 set to benefit first. <\/p>\n Capital Market Reforms Expand, Enabling a Full “Investment\u2013Financing\u2013Management\u2013Exit” Cycle for Commercial Real Estate<\/b> <\/p>\n Capital market reforms continue to support expansion in commercial real estate investment. The work report calls for deepened reform of comprehensive investment and financing mechanisms, expanded exit channels for private equity and venture capital, and accelerated growth of the public REITs market. By 2025, China’s public REITs issuance exceeded RMB210 billion, making it the largest REITs market in Asia. In 2026, commercial public REITs enter their first year of development, with pilots extended to hotels and commercial offices. This establishes a “dual\u2011engine” landscape of “infrastructure + commercial real estate” and enables a more complete investment\u2011financing\u2011management\u2011exit cycle <\/p>\n Further Opening\u2011Up Boosts Cross\u2011Border Logistics and Foreign Investment Demand<\/b> <\/p>\n China’s opening\u2011up objectives in 2026 feature two core characteristics: expanding services sector openness to attract foreign investment, and promoting standardized, high\u2011quality development of cross\u2011border e\u2011commerce. In 2025, China’s cross\u2011border e\u2011commerce imports and exports totaled RMB2.75 trillion, with growth outpacing overall trade for the fourth consecutive year. The sector’s demand for high\u2011specification warehouses \u2014 characterized by high density and rapid turnover \u2014continues to rise. Cushman & Wakefield data shows that the warehouse market is experiencing volume growth alongside price adjustment, with notable regional differences. As cross\u2011border e\u2011commerce becomes more regulated, and cold\u2011chain logistics demand continues to expand, green\u2011certified, intelligent high\u2011spec warehouses are expected to gain a competitive advantage. <\/p>\n Advancement of New Urbanization Brings Opportunities for Urban Clusters and Urban Renewal<\/b> <\/p>\n A notable highlight among 2026 urbanization policies is the first\u2011ever proposal to build “innovation\u2011driven industrial communities and business communities.” This concept breaks the traditional boundary between industrial parks and business districts, fostering integrated complexes that combine office, commercial, and residential functions. The report also supports the development of world\u2011class city clusters in the Beijing\u2011Tianjin\u2011Hebei region, the Yangtze River Delta, and the Greater Bay Area, while enhancing the dual\u2011city Chengdu\u2011Chongqing Economic Circle and accelerating growth in the middle\u2011Yangtze city cluster \u2014 further intensifying regional differentiation in the commercial property market. Urban renewal and revitalization of existing stock assets are core pillars of the current urbanization strategy. Policies promoting the reuse of existing land and idle buildings align closely with efforts to revitalize existing housing stock. For owners and operators of prime urban assets, regeneration projects offer strategic opportunities for repositioning and value enhancement. <\/p>\n Green Transformation Prompts Sustainability Certifications to Become a Key Competitive Advantage<\/b> <\/p>\n The work report dedicates a standalone section to the green transition, announcing dual controls on total carbon emissions and intensity, as well as new policy tools such as zero\u2011carbon parks and a national low\u2011carbon transition fund. In 2025, China’s national carbon market saw 235 million tons of allowances traded, with transaction value reaching RMB14.63 billion, up approximately 24% year\u2011on\u2011year. Carbon costs have become an increasingly important factor in corporate leasing and location decisions. With 97.9% of newly built urban buildings in 2024 meeting green standards, green retrofits of existing buildings are gaining momentum. Commercial properties certified under LEED, WELL, and China’s Green Building Label standard enjoy notable advantages in rental premiums and tenant attraction. <\/p>\n Sabrina Wei, Chief Policy Analyst and Head of Research, North China, Cushman & Wakefield, <\/b>said, “The 2026 government work report outlines a clear development vision for commercial real estate characterized by macroeconomic stability, targeted policies, and structural transformation. A GDP growth rate of 4.5%-5% will provide market stability, a RMB350 billion consumption stimulus will activate demand for retail properties, “AI+” will reshape the office market; capital market reforms and public REITs will enable a full “Investment\u2013Financing\u2013Management\u2013Exit” cycle, urban renewal will unlock values of existing assets, and green certification will define new competitiveness for the industry. As the real estate industry transitions from a construction\u2011focused model to one centered on operations and services, institutions with strong capabilities in asset management and high\u2011quality operational service delivery will be best positioned to capture the emerging opportunities of this transformative new cycle.” <\/p>\n To access the full report please click here<\/a>. The issuer is solely responsible for the content of this announcement.<\/p>\n Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles<\/i>, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2,4],"tags":[],"class_list":["post-51894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media-outreach-newswire","category-media-outreach-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/51894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51894"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/51894\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Hashtag: #CushmanWakefield<\/p>\nAbout Cushman & Wakefield<\/h4>\n
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www.cushmanwakefield.com.hk<\/a> or follow us on LinkedIn (![](\"https:\/\/release.media-outreach.com\/Release\/templates\/images\/socialMedia\/iconmonstr-linkedin-1-24.png\")
www.linkedin.com\/company\/cushman-&-wakefield-greater-china<\/a>).<\/p>\n<\/p>","protected":false},"excerpt":{"rendered":"
Cushman & Wakefield Interpretation Report Highlights Eight Impact Areas for Real Estate Market<\/i><\/h4>\n
Hashtag: #CushmanWakefield<\/p>\nAbout Cushman & Wakefield<\/h4>\n
www.cushmanwakefield.com.hk<\/a> or follow us on LinkedIn (www.linkedin.com\/company\/cushman-&-wakefield-greater-china<\/a>).<\/p>\n<\/p>\n