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Greater Bay Area Residential Transactions Stabilized in 2H 2024 With Central Government’s Support

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Neighborhood Retail Assets and Industrial/Logistics Sector Gain Investors’ Interest

  • Since the Politburo’s emphasis in its September 2024 meeting that authorities “must work to halt the real estate market decline and spur a stable recovery,” Chinese mainland residential market sentiment has strengthened significantly, supporting a pick-up in primary market home sales
  • Total investment volume in the Greater Bay Area (GBA) commercial real estate (CRE) market recorded RMB44.7 billion in 2024, accounting for 20% of total Chinese mainland CRE investment volume
  • The industrial/ logistics sector became sought-after, accounting for 22% of total investment volume in the GBA, with transaction activity in second-tier GBA cities performing notably well

HONG KONG SAR – Media OutReach Newswire – 14 January 2025 – Global real estate services firm Cushman & Wakefield today published its Greater Bay Area Residential and Investment Market 2024 Review and 2025 Outlook. In reviewing 2024, GBA residential market sentiment remained cautious in the first three quarters, due to the slower-than-expected pace of economic recovery and a lack of confidence among potential buyers. However, since the Central Government emphasized at the Politburo meeting that authorities “must work to halt the real estate market decline and spur a stable recovery,” and put forward stimulus measures targeting both the demand and supply sides, residential transaction activity started to strengthen from October. The CRE investment market also began to show a steady uptrend from Q4 onwards, with neighborhood retail assets and the industrial/ logistics projects being the most sought-after by investors.

GBA Residential Market

Overall GBA residential market sentiment remained cautious in the first half of 2024 due to the economic slowdown in the Chinese mainland combined with a lack of confidence in the real estate market. Although overall GBA primary market residential transactions picked up in June following the introduction of the “517” new housing policies, the market then gradually digested the favorable impact in the subsequent months, failing to bring a sustained stimulus to residential transactions.

In late September, the Central Government then emphasized at the Politburo meeting that authorities “must work to halt the real estate market decline and spur a stable recovery”. Unlike the “517” new housing policies, which mainly targeted the demand side, this time the policies were designed to stimulate the market from both the demand and supply sides. The Central Government also introduced real estate measures summarized as “four cancellations, four reductions, and two additions,” aimed at lowering the cost of entry for buyers,and boosting the market’s confidence in developers’ capital flow by encouraging local governments to use funds from special-purpose bonds to reclaim and acquire idle land and unsold units. Since October, the residential market has become more active, with transaction numbers picking up significantly. Around 40,000 transactions were recorded in the GBA primary residential market in October, growing 70% m-o-m. Transactions through Q4 showed a strong recovery, growing 42% y-o-y and 72% q-o-q, with new home sales in Shenzhen and Guangzhou surging 165% and 72% respectively over the same period last year. These figures reflect that with the support of favorable policies, residential transaction activity in the Greater Bay Area is gradually recovering. Although total primary market transactions for the full-year 2024 reached approximately 318,000 units, a 16% y-o-y drop from 2023, the decline was concentrated in the first three quarters. (Chart 1).

Chart 1: GBA First-Hand Residential Sales

Primary market home prices are more swayed by the quality level of newly launched projects, and first-hand residential prices in the nine GBA Chinese mainland cities showed a mixed trend in 2H 2024. Secondary market home prices generally better reflect current underlying trends, and National Bureau of Statistics data shows that Shenzhen secondary home prices had been in a correction of -9.2% for the first nine months of 2024. However, since the Central Government introduced a series of stimulus measures for the real estate market in September and October, in particular the special-purpose bonds to improve developers’ cash flow, the sales price index of secondary market residential buildings in Shenzhen has stabilized, with m-o-m increases of 0.7% in October and 0.5% in November. We expect the price index in December to record similar growth to November, narrowing the annual decline to 7.7% (Chart 2).

Chart 2: Change in Shenzhen Secondary Home Price Index

Alva To, Cushman & Wakefield’s Vice President, Greater China & Head of Consulting, Greater China said, “In reviewing the easing policies introduced in 2H 2024, the Central Government has not only stimulated housing demand but also strived to stabilize supply. Among the measures, we believe the policy of encouraging local governments to use funds from special-purpose bonds to reclaim and acquire idle land and unsold units is the most noteworthy. This is expected to help developers improve their cash flow and liquidity, in turn strengthening market’s confidence in developers’ deliveries, while also ensuring a stable housing supply. Only with the gradual restoration of market confidence can the purchasing power stimulated by easing policies be truly unleashed. Looking ahead to 2025, we believe that the most challenging time is over and that the property market is now gradually stabilizing with the support of the Central Government’s policies. With the support of favorable policies, transaction numbers are likely to be maintained at the current level. We forecast that total first-hand residential transactions in the GBA will increase by 20% to around 380,000 units in 2025, supporting the gradual recovery of home prices.”

GBA CRE Investment Market

Charli Chan, Cushman & Wakefield’s Deputy Managing Director, Head of HK PRC Team, Capital Markets, said, “After significant downward asset price adjustments in the middle of the year, the GBA CRE investment market began to show a trend of stable recovery trend from Q4 2024. The GBA CRE investment market (large-sized deals at RMB100 million or above) recorded 66 deals totaling RMB44.7 billion for the full-year 2024, decreasing 9% y-o-y, accounting for 20% of the overall Chinese mainland investment market (Chart 3). Of the 66 large-sized deals, 15 were above the RMB1 billion mark, accounting for 23% of the total number of transactions, up from 20% in 2023. The GBA commercial property investment market continued to focus on the two first-tier mainland cities, Shenzhen and Guangzhou, recording total transaction volumes of RMB23.9 billion and RMB14.6 billion, respectively.

By property type, the office/R&D office sector continued to take the largest share of the market, accounting for more than half of the total investment volume for 2024. The share of the industrial/ logistics sector increased notably, from 9% of total investment volume in 2023 to 22% in 2024, chiefly driven by logistics demand spurred by cross-border e-commerce activities (Chart 4). This trend is also in line with the firm’s forecast six months ago.

Chart 4: Total CRE Investment Volume in the GBA by Property Type

Charli Chan added, “Looking ahead to 2025, investors are likely to remain cautious in the current market conditions. The abundant new supply of industrial, logistics, and office premises, combined with relatively few buyers in the market, is going to lead to increased competition, bringing downward pressure on property prices. However, the low interest rate environment in the Chinese mainland, and with further rate cuts anticipated, is expected to offset the downward pressure to a certain extent. Property prices are expected to remain generally stable in 2025.

“In terms of property type, the logistics sector currently remains the top choice for investors. However, Guangdong is facing a supply boom in the coming two years, which may exert pressure on rents. Neighborhood retail assets and community malls are expected to remain sought after, and industrial parks are also attracting greater market attention with the benefit of relatively long-term tenants. Yet, investors are advised to adjust their strategies in a timely manner, considering the effectiveness of the ‘Industry’s Going Upstairs’ (IGU) policy and the actual market situation. Among all asset classes, the office sector has experienced the greatest price pressure. We suggest investors to pay attention to projects held by U.S. dollar funds that are willing to offload assets with price discounts.”

Please click here to download photos.

Caption:
Alva To, Cushman & Wakefield’s Vice President, Greater China & Head of Consulting, Greater China (Left)
and Charli Chan, Cushman & Wakefield’s Deputy Managing Director, Head of HK PRC Team, Capital Markets (Right).

Hashtag: #CWK

The issuer is solely responsible for the content of this announcement.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2023, the firm reported revenue of $9.5 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit or follow us on LinkedIn ().

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iQOO 15R Named Official Gaming Phone for 2026 Asian Games Esports Qualifiers: Honor of Kings

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The performance-focused smartphone will support tournament-level mobile gameplay with stable performance, responsive controls and sustained power.

DONGGUAN, CHINA – Media OutReach Newswire – 19 June 2026 – iQOO, a smartphone brand built for high-performance mobile gaming experiences, today announced that the iQOO 15R has been named the Official Gaming Phone for the 2026 Asian Games Esports Qualifiers: Honor of Kings.

iQOO

As an official esports title of the Asian Games, Honor of Kings brings together competitive mobile esports players from across the region. Through this partnership, iQOO will support the Qualifiers with a device designed for competitive mobile gaming, reinforcing the brand’s commitment to supporting powerful, stable and immersive experiences for players and fans.

Supporting Tournament-Level Mobile Esports

Competitive mobile esports requires more than peak performance. Players often rely on consistent frame rates, responsive touch control and reliable power throughout extended matches. With the iQOO 15R serving as the Official Gaming Phone for the Qualifiers, iQOO aims to bring its performance-driven technology into a professional tournament setting and support players with a device built for speed, control and sustained gameplay.

Built for Stable, High-Intensity Gameplay

Designed as a performance-focused smartphone, the iQOO 15R is equipped to support the high demands of mobile gaming. Powered by the Snapdragon® 8 Gen 5 Mobile Platform and Monster HyperCore Engine, the device is engineered to help deliver stable frame rates and responsive gameplay during extended sessions.

The Supercomputing Chip Q2 is designed to enhance visual clarity for a more immersive gaming experience, while the Super Touch Control Chip is designed to improve input accuracy and control response. In addition, the advanced cooling system and large-capacity Silicon Anode Battery with fast charging help provide the sustained performance and power required for tournament-level play.
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About iQOO

iQOO, a sub-brand of vivo, differentiates itself in performance and Esports experience. iQOO leverages the research, quality assurance and after-sales service expertise of vivo, and follows the brand ethos of i Quest On and On to push boundaries, innovate boldly and share the excitement of exploring future technology. With products offering Esports-standard capabilities, iQOO aims to become the top choice of consumers who are passionate about performance and gaming.

For more information, please visit .

About Honor of Kings

Developed by TiMi Studio Group, Honor of Kings has become the world’s most-played MOBA. In 2025, the combined MAU of Honor of Kings titles surpassed 260 million. Featuring highly detailed and diverse character and battlefield design plus music created by world renowned composers including Hans Zimmer, Joe Hisaishi, and Howard Shore, Honor of Kings immerses players in a unique and colorful universe. Honor of Kings prides itself on being free to play and fair to win, with success determined by players’ skills and tactics. Honor of Kings is also home to a thriving esports ecosystem supporting competitive play from grassroots amateurs to elite professionals. To learn more about Honor of Kings, follow on , , , , or visit the official of Honor of Kings.

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ZEEKR Surpasses 800,000 Global Deliveries and Unveils Global Expansion Strategy for Dual Flagship 9-Series Models

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HONG KONG SAR – Media OutReach Newswire – 19 June 2026 – The 2026 International Automotive and Supply Chain Expo (Hong Kong) officially opened today. Under the theme “Luxury, Elevated to a New Realm”, ZEEKR unveiled the global expansion strategy for its dual flagship 9-Series models — the ZEEKR 9X and ZEEKR 009 Grand.

As a key gateway connecting China with global markets, Hong Kong serves as an important benchmark for the premium automotive industry and a strategic platform for luxury brands expanding internationally. Launching the global strategy for the 9-Series in Hong Kong marks a significant new chapter in ZEEKR’s growth across the global premium new energy vehicle market.

800,000 Deliveries Milestone Underscores ZEEKR’s Global Growth Momentum

Strong market performance continues to support ZEEKR’s expansion in the global premium new energy vehicle segment. As of June 16, 2026, ZEEKR’s cumulative global deliveries officially exceeded 800,000 vehicles, marking a major milestone for the brand.

In Hong Kong, ZEEKR has maintained strong momentum. From January to May 2026, ZEEKR captured a 40.7% market share of Hong Kong’s luxury vehicle segment, ranking first among all luxury automotive brands. The ZEEKR 009 ranked as Hong Kong’s best-selling luxury MPV, while the ZEEKR 7X became the city’s best-selling luxury SUV.

Across key international markets, ZEEKR continues to achieve strong results. In Thailand, the brand was the best-selling luxury pure-electric MPV brand in 2025 and retained its leadership position from January to May 2026. In Malaysia, ZEEKR ranked No.1 among luxury pure-electric brands during the same period, with the ZEEKR 7X leading the luxury electric SUV category and the ZEEKR 009 remaining the top-selling luxury electric MPV. In Australia, ZEEKR continued to lead the luxury SUV segment priced above AUD 65,000 from January to May. In Mexico, the ZEEKR 7X secured the monthly luxury EV sales title in both April and May.

Dual Flagship 9-Series Models Showcase ZEEKR’s Technology-Luxury Vision

At this year’s expo, ZEEKR is showcasing five models spanning family mobility, executive transportation and flagship luxury, highlighting the breadth of its premium product portfolio.

The ZEEKR 9X, ZEEKR’s new global flagship of ultra-luxury SUV, is built on the SEA-S architecture and features a 900V high-performance silicon carbide electric drive system delivering more than 1,030 kW of maximum power. Four integrated safety structures combined with extensive use of 2,000 MPa ultra-high-strength steel contribute to a torsional rigidity rating of 41,600 N·m/deg, setting a new benchmark for safety in the hybrid SUV segment. The ZEEKR 9X recently opened pre-sales in the Middle East, where it has received strong market interest. The model is scheduled to expand into key markets across Latin America, Central Asia and Europe.

The ZEEKR 009 Grand, the brand’s global ultra-luxury four-seater flagship MPV, features a 720-degree comprehensive safety architecture and the world’s first integrated die-cast C-ring cabin structure, delivering segment-leading rear-seat protection. The second row is equipped with two ultra-soft aniline leather executive seats featuring 20 massage points and an industry-leading seven-zone graphene heating system, creating an exceptional luxury experience for rear passengers. The right-hand-drive version of the ZEEKR 009 Grand is scheduled to launch in Hong Kong in the fourth quarter of 2026.

The ZEEKR 8X, a super hybrid high-performance flagship SUV, also makes its Hong Kong debut. Built on the SEA-S Super Hybrid Architecture, the ZEEKR 8X delivers a flagship experience across four key dimensions: performance, intelligence, safety and comfort.

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Expanding Global Capabilities and Opening a New Chapter of Technology Luxury

As its product lineup continues to grow and its international footprint expands, ZEEKR is accelerating the development of a comprehensive global operating system spanning R&D, product planning, market operations and customer services. Today, ZEEKR’s overseas business covers more than 60 major cities worldwide with a rapidly growing global user base.

As the global automotive industry accelerates toward electrification and intelligent mobility, the luxury vehicle market is entering a new era in which technological innovation is redefining the premium experience. Leveraging Hong Kong’s position as a globally connected international hub, ZEEKR will continue to deepen its global presence and advance the evolution of luxury through innovation. Through cutting-edge technologies, exceptional products and comprehensive lifecycle services, ZEEKR is committed to delivering a distinctive technology-luxury mobility experience for customers around the world.

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About Zeekr

Zeekr is the global luxury electric vehicle technology brand from Geely Auto Group. Utilizing advanced software-defined architectures and cutting-edge propulsion technologies, Zeekr is dedicated to creating a fully integrated user ecosystem with innovation at its core.

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A Decade of Sharing the Flavors of China: ‘Chinese Restaurant’ Stays True to Its Mission Through Food and Culture

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19/06/2026

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CHANGSHA, CHINA – Media OutReach Newswire – 19 June 2026 – Carrying the warmth of everyday life and the richness of Chinese civilization, Chinese Restaurant embarks on a new chapter as it celebrates its 10th anniversary. Marking this milestone, Chinese Restaurant: Nanyang Memories Season makes its highly anticipated return, with partners Huang Xiaoming, Wang Junkai, Hannah Quinlivan (Kun Ling), Jiang Yan, Jin Mengjia, Zhang Yaqi, Lin Shuwei, and the rest of the team ready to begin a heartwarming journey through Southeast Asia. The new season will premiere on June 19, airing every Friday at 12:00 p.m. (Beijing Time) on Mango TV and at 10:00 p.m. on Hunan TV.

Over the past nine years, Chinese Restaurant has traveled across multiple countries and regions, including Thailand, France, Italy, and Hungary. Looking back on its journey of cultural exchange, the program launched a dedicated Chinese food truck in France, allowing local residents and visitors to conveniently experience authentic Chinese flavors. In Hungary, food served as a unique language that fostered deeper intercultural understanding. During the 50th anniversary of diplomatic relations between China and Italy, the program actively responded to the Belt and Road Initiative, using cultural interaction and culinary exchange to strengthen friendship between the two nations.

Now, standing at the threshold of its second decade, Chinese Restaurant: Nanyang Memories Season returns to Thailand, drawing upon the longstanding cultural, tourism, and people-to-people ties between China and Thailand. Through food and storytelling, the program once again brings Chinese culture to life on Southeast Asian soil.

The new season introduces an innovative business model inspired by traditional Chinese agricultural wisdom, creating a distinctive experience that combines pastoral ecology with the aesthetics of contemporary Chinese dining. New service concepts, including the “Chef’s Table” and “Chef at Home,” offer guests diverse culinary experiences while naturally integrating Chinese cuisine into everyday local life.

For ten years, Chinese Restaurant has remained committed to its original vision: telling authentic and heartfelt Chinese stories while showcasing the unique appeal of Chinese cuisine to global audiences. Through food, the program has helped narrow cultural distances, deepen international understanding, and highlight the confidence, vitality, and inclusiveness of Chinese culture.

The premiere episode of Chinese Restaurant: Nanyang Memories Season coincides with the Dragon Boat Festival, as the seven partners begin a brand-new entrepreneurial adventure in Chiang Mai, Thailand. From unexpected operational challenges and cultural differences to the dynamic interactions among team members with diverse personalities, the journey promises a wealth of memorable moments and compelling stories for viewers.

Over the years, the Chinese Restaurant franchise has consistently used authentic Chinese cuisine as a bridge connecting people across cultures. Every dish reflects the traditions and warmth of Chinese daily life, while every shared meal conveys the spirit and values of Eastern culture. Set against real-world international backdrops, the program vividly presents the depth and richness of Chinese civilization.

Today, Chinese Restaurant is far more than a culinary reality show. It has become a platform for cultural dialogue, mutual understanding, and friendship between China and the world. Through the universal language of food, the program continues to bring people closer together, allowing Chinese flavors and Chinese stories to resonate across borders and leave a lasting impression on audiences worldwide.

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