Media OutReach
China’s “Two Sessions” 2025 Government Policy Outlook Indicates Renewed Opportunities for Commercial Real Estate
Cushman & Wakefield Interpretation Report Highlights Five Areas of Opportunity for Real Estate Sectors
HONG KONG SAR – Media OutReach Newswire – 12 March 2025 – Global real estate services firm Cushman & Wakefield has released its China’s Two Sessions 2025: Interpreting the Government Work Report publication. The new study examines China’s economic development goals and policy directions for 2025 as outlined in the Report on the Work of the Government delivered by premier Li Qing, and highlights five key government tasks that will impact China’s commercial real estate market.
Sabrina Wei, Cushman & Wakefield’s Chief Policy Analyst and Head of Research, North China, said, “We should note that 2025 is the final year of the current Five-Year Plan period. In the objectives and policy measures stated in the new Government Work Report we see a focus on stabilizing expectations, expanding domestic demand, and accelerating green transition. As well, targets to implement more proactive fiscal policy, scientific and technological innovation, and revitalization of assets all inject new structural opportunities into commercial real estate.”
Boosting Consumption to Promote Retail Industry Expansion and Upgrading
The Government Work Report lists “vigorously boosting consumption” as the foremost major task for 2025. Given the uncertain external environment, tapping consumption potential and boosting domestic demand are viewed as crucial strategies to drive economic growth and to restore China’s economy to sustained healthy growth. China’s retail market is currently undergoing a period of change, where consumer pursuit of quality, social interaction, personalization and experience is becoming the mainstream. These demands are mandating retail operators to continue to grow and upgrade consumption scenarios.
Additionally, the expansion of infrastructure REITs to include consumer infrastructure has greatly stimulated investor interest in the retail industry. According to Cushman & Wakefield, commercial retail projects’ share of total real estate investment volume grew from 10% in 2023 to 14.85% in 2024 (Figure 1), and this trend is expected to further continue in 2025.
Figure 1: Comparison of property transaction volume by sector in the Chinese mainland capital market, 2023–2024
New Productive Forces and Technological Innovation to Aid Structural Recovery in Office Demand
The Government Work Report emphasizes the continued development of emerging industries such as commercial aerospace and the low-altitude economy, as well as the cultivation of future industries including biomanufacturing, quantum technology, AI, and 6G technology. The value of the low-altitude economy, for example, is forecast to reach RMB850 billion in 2025, with an average annual growth rate of more than 30%.
China’s high-tech industry has also begun to play a leading role on the global stage, with investors re-examining the value of Chinese technology companies. In the capital market, starting from the end of 2024, the performance of China’s top ten technology companies has been notable. The stock price of China’s top ten technology companies has grown by 57.39% from the end of 2023, as at the end of February 2025 (Figure 2).
Figure 2: Stock price growth trends of China’s top ten technology companies and the seven American giants (base as at the end of 2023)
Over the past two years, downward economic pressures have led to a drop in office leasing demand across the Chinese mainland. Office rents have fallen, and vacancy rates have risen in many cities. The government’s renewed efforts to promote development of the “platform economy” can effectively drive new employment and expand consumption. In turn, this will support growth in demand for office premises and industrial parks. In addition, in May 2024, the State Financial Supervision and Administration Bureau issued the Guidance on Banking and Insurance Industries Doing a Good Job in the Five Financial Tasks, which emphasized strengthening financial support for major national technological goals as well as for small and medium-sized technology enterprises. Cushman & Wakefield expects that office demand in the Chinese mainland through 2025 will grow compared to 2024, with office rental levels in some cities bottoming out and stabilizing in the second half of the year.
Special-Purpose Bonds to Accelerate Market Stabilization and Reactivation of Existing Assets
This year’s Government Work Report includes “ensure stability in the real estate market and the stock market” in the overall requirements and policy orientations for economic and social development. The detailed discussion on the real estate sector remains in the objective titled “Preventing and Defusing Risks in Key Areas.” Key points regarding real estate include continuing efforts to stabilize the property market, adjusting restrictive measures according to local conditions,
accelerating the renovation of urban villages and older housing, and fully releasing potential demand for first homes and improved housing.
The Government Work Report sets the allocation of local government special-purpose bonds at RMB4.4 trillion, an increase of RMB500 billion on last year. The funds raised from these special-purpose bonds are to be used for investment construction, land acquisitions and reserves, and the acquisition of existing unsold housing, as well as resolving local government arrears to enterprises. This policy signals a significant expansion in fiscal expenditure. Local governments’ use of special bond funds to acquire developer land and completed projects is seen as key to restoring normalcy in the real estate market.
Guangdong Province has taken the lead in the bond project, issuing RMB30.7 billion in land reserve special bonds to repurchase idle land. As at February 22, the first batch of projects planned for idle land recovery exceeded 220 sites, with a total planned reserve price of more than RMB43 billion. The model may be promoted nationwide. This will help to revitalize inefficient land use, effectively alleviate the financial pressure of real estate companies, reduce market supply, and stabilize housing market prices. Additionally, the repurposing of reserved land can be optimized for urban land use.
As the government pays greater attention to the commercial office market, developers are expected to increase efforts to revitalize and renovate unfinished office buildings, together with older and inefficient office properties constructed in non-core areas. These measures are expected to partially ease supply pressures in the commercial office market.
Encouraging Foreign Investment to Lift En-Bloc Property Market Activity
The Government Work Report reiterates the need to promote orderly opening up in the internet and cultural sectors, expand opening up pilots in telecommunications, healthcare, and education, encourage foreign investors to increase reinvestment, and support participation in upstream and downstream industrial chain collaboration. Ministry of Industry and Information Technology data reveals that, by the end of 2024, 2,343 foreign enterprises had been approved to operate telecommunications businesses in China. Additionally, the 2025 China Business Environment Survey Report from the American Chamber of Commerce in China shows that nearly 70% of consumer industry respondents expect to increase investment in China in 2025. This reflects multinational companies’ general willingness and confidence in continuing to invest in and to deepen their presence in China.
Accelerating the Green Transformation Brings ESG to the Center of Asset Value
The 2025 Government Work Report outlines a blueprint for China’s high-quality development, providing a clear development path for corporate ESG practices and innovation. Against the backdrop of low-carbon transformation, practicing ESG concepts to form the core competitiveness of enterprises is a strategic choice to further promote sustainable and high-quality development.
Sabrina Wei, Cushman & Wakefield’s Chief Policy Analyst and Head of Research, North China, added, “The 2025 Government Work Report will focus development strategies on the long-term transformation of China’s national economy, rather than short-term risk responses. In the light of uncertainty in the external environment, the Chinese government has expanded fiscal and monetary support. The ‘dual engines’ of consumption combined with scientific and technological innovation will drive the recovery of the overall commercial real estate market. We expect the retail sector to directly benefit from policy dividends, while office and industrial park demand will gradually stabilize, and overall market activity should recommence growth. Asset revitalization and comprehensive management capabilities will be key to overcoming cyclical challenges.”
Please click here to download the full report (Chinese language).Hashtag: #Cushman&Wakefield
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 2024, the firm reported revenue of $9.4 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, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (
https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
Media OutReach
Can Gio Awakens as Ho Chi Minh City’s Next Growth Frontier
After decades of quiet, Can Gio is awakening on Vietnam’s southern coast, as fresh investment and grand designs breathe new life into the once-remote district of Saigon.
HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 27 December 2024 – Six months after the groundbreaking of a 2,870-hectare coastal urban project backed by Vingroup, Vietnam’s largest private conglomerate, Can Gio, once seen as a forgotten corner of Ho Chi Minh City, is now emerging as a new growth engine for Vietnam’s southern metropolis.
Breaking Isolation
For years, Can Gio was often left out of the city’s rapid development. Surrounded by dense forests and accessible mainly by ferry, it remained a world apart. Now, that is beginning to change.
Six months ago, the large-scale land reclamation project officially started construction. Locals call it a “game changer” that awakened a land long left behind. Along the coast that once lay quiet, a vast construction site has emerged, with heavy machinery working day and night. “I was very surprised by the speed,” said Prof. Pham Van Song, president of the Mien Dong University of Technology, noting that hundreds of hectares have already been filled and stabilized within months.
The project, developed by Vingroup through its real estate arm Vinhomes, represents one of the group’s most ambitious coastal developments, part of a long-term vision to extend Ho Chi Minh City’s urban footprint toward the sea. With billions of U.S. dollars in investment, it combines housing, tourism, and modern infrastructure within a single master plan that anchors Can Gio’s transformation.
Complementing this project, a series of major infrastructure works are also reshaping the district. By the end of 2025, the Phu My Hung–Can Gio high-speed railway, designed to reach 350 kilometers per hour, is expected to begin construction, linking the area to the city’s southern urban core. In 2026, the long-awaited Can Gio Bridge will break ground, cutting the journey to the city center to around 45 to 60 minutes.
At the same time, the Rung Sac interchange, with an investment of 3,000 billion VND (about 120 million U.S. dollars), will connect Can Gio directly with the Ben Luc–Long Thanh Expressway. Expected to be completed in 2028, it will link Can Gio with both the Southwest and Southeast regions, including Long Thanh International Airport.
In addition, a sea-crossing expressway between Can Gio and Vung Tau, 50 meters wide and proposed by Vingroup, would stretch across the sea for more than 10 kilometers. The plan envisions a wide eight-lane road that could reduce travel between Can Gio and Vung Tau to under 15 minutes, creating a strategic connection between the two coastal economies.
These efforts fit within a broader regional plan that combines road, rail, water, and sea transport. Another key project is the Can Gio International Transshipment Port, covering 571 hectares with an investment of 50,000 billion VND. The port is designed to become a new symbol of Vietnam’s maritime economy, with its first phase scheduled to begin operations in 2027 and full completion before 2045.
“A Single Project Ignites the South”
According to Prof. Pham Van Song, the rise of Can Gio is a natural development, especially with the involvement of Vingroup through its Vinhomes Green Paradise project. He believes that Can Gio is moving from an ecological area on the fringe of development to a new center of growth. “All modes of transportation will be available in Can Gio,” he said. “The district’s GRDP will grow rapidly in line with ongoing construction and investment. Both the number of residents and visitors will surge. Local people will be the first to directly benefit from these projects, and their lives will become increasingly prosperous.”
The changes are already drawing attention from investors. Dinh Minh Tuan, southern regional director of Batdongsan.com.vn, said the number of searches related to Can Gio has tripled since the beginning of the year. After the Vinhomes Green Paradise project broke ground, property interest in the district doubled again. “Just one single project has heated up the entire southern market,” he said.
Experts say this follows a familiar pattern. In the 1990s, Nguyen Van Linh Boulevard helped turn southern Ho Chi Minh City into a thriving area and drew nearly two million residents. In the 2010s, the completion of the Thu Thiem Tunnel and Bridge attracted more than one million people to the city’s east. “Investors who followed the infrastructure development wave then saw huge gains,” Tuan noted. “Can Gio now stands at a similar starting point, but with a stronger push.”
With a population of about 80,000, Can Gio has long faced a single challenge: lack of connectivity. But, “with the series of large-scale investments now under way, Can Gio is expected to grow faster than many of the city’s earlier new urban areas,” said Tuan.
Hashtag: #Vinhomes
The issuer is solely responsible for the content of this announcement.
Media OutReach
Z.ai Open-Sources GLM-4.7, a New Generation Large Language Model Built for Real Development Workflows
The new model is designed around practical engineering workflows, with a focus on long-running task execution, stable tool calling, and multi-step reasoning, capabilities that have become increasingly important as developers deploy large language models in complex, agent-based systems.
Compared with its predecessor, GLM-4.6, GLM-4.7 shows notable gains in code generation, complex reasoning, and agent execution. According to Z.ai, the model delivers more consistent and controllable performance over extended tasks, while producing cleaner and more concise language output, addressing a common weakness in many open-source models.
To evaluate performance in realistic settings, Z.ai tested GLM-4.7 on 100 practical programming tasks in production-like environments such as Claude Code, spanning front-end, back-end, and command-execution scenarios. The company said GLM-4.7 achieved higher task completion rates and greater stability than GLM-4.6, and has since been adopted as the default model for its GLM Coding Plan.
Benchmark results also place GLM-4.7 among the strongest open-source models currently available. It scored 67.5 on BrowseComp and 87.4 on τ²-Bench, the latter marking a new high for open-source systems. In coding-focused evaluations, including SWE-bench Verified and LiveCodeBench v6, its overall performance approaches that of Claude Sonnet 4.5. In Code Arena’s large-scale blind evaluation, which aggregates votes from more than one million comparisons, GLM-4.7 ranked first among open-source models.
The model is available through the BigModel.cn API and has been integrated into Z.ai’s full-stack development platform, according to the company. As open-source models take on a more prominent role in the global technology ecosystem, Z.ai’s progress offers a clear indication of how such systems may continue to evolve, and what they might enable next.
Default Model for Coding Plan: https://z.ai/subscribe
Try it now: https://chat.z.ai/
Weights: https://huggingface.co/zai-org/GLM-4.7
Technical blog: https://z.ai/blog/glm-4.7
Hashtag: #ZAI
The issuer is solely responsible for the content of this announcement.
Media OutReach
NIA Joins Forces with TAT to Reignite ‘Amazing Thailand’ Through Innovation Power, Transforming Thai Tourism and Leveraging Creativity and Culture to Drive a New Tourism Economy
Towards the end of this year, Thailand is preparing to reignite global attention with a renewed wave of ‘Amazing Thailand.’ The government and private sector are rolling out a comprehensive set of tourism-stimulus measures that address both economic impact and national image. One of the most talked-about highlights is the appointment of Lalisa ‘Lisa’ Manobal as the new brand ambassador — not only a global-level artist, but also a powerful representation of Thailand’s contemporary image on the world stage.
Another key highlight to watch closely is the launch of the ‘Amazing Thailand Innovation Gadget’ platform, developed through a collaboration between the National Innovation Agency (Public Organisation), or NIA, and the Tourism Authority of Thailand (TAT). This initiative aims to elevate Thailand’s tourism industry into the era of Smart Tourism in a tangible and comprehensive way.
The platform is designed to function as Thailand’s first-ever tourism innovation repository, bringing together tourism-related technologies and solutions in one centralised space. These range from route-planning technologies, accommodation booking systems, and tourist-data management, to experience-creation tools that personalise journeys and enhance engagement. More than a simple innovation directory, the platform represents a turning point — a mechanism that connects entrepreneurs, developers, and creative talents to co-create new ‘Amazing’ experiences, spanning the entire traveller journey from trip planning to the final moment of travel for visitors worldwide.
Learning from Global Leaders Where Tourism Meets Technology
The world has entered an era where tourism is no longer driven solely by beautiful destinations and cultural heritage. Instead, competitiveness increasingly depends on experiences and technology. As a result, many countries are rapidly upgrading their tourism sectors to become smarter, more emotionally engaging, and better aligned with the expectations of modern travellers.
Japan, for example, stands as a model of cultural-innovation integration, leveraging anime, music, cuisine, and fashion as globally recognisable soft power. Recently, the Japanese government has rebooted efforts to fuse cultural roots with advanced technology through initiatives such as Virtual Remix Japan, which enables global audiences to participate in art exhibitions, festivals, and anime worlds in real time via VR and AR. This exemplifies a seamless blend of past and future.
Meanwhile, South Korea has aggressively combined technology and tourism to enhance attractiveness and vibrancy. The country actively promotes start-ups offering cloud-based hotel-management platforms, real-time translation technologies, blockchain services for international tourists, and platforms linking tourism with overseas education. South Korea has also built a tourism ecosystem that integrates smart cities, digital technology, and contemporary culture, using K-pop artists as a major driving force.
In Barcelona, Spain, one of Europe’s leading smart cities, tourism has been elevated through intelligent urban and visitor-experience management. From smart traffic systems and energy-saving public bike services to big-data-driven analysis of tourist behaviour, visitors can plan accommodation, restaurants, and travel routes through a single integrated application. This approach creates a balanced coexistence between tourism and urban life. Together, these examples demonstrate that technology is no longer merely a supporting tool, but the core differentiator in the modern tourism economy.
Amazing Thailand Innovation Gadget: Elevating Thai Tourism Through a Fully Integrated Innovation Ecosystem
NIA and TAT have officially announced a landmark collaboration with the launch of the ‘Amazing Thailand Innovation Gadget’ platform, which serves as Thailand’s first tourism innovation repository. The initiative aims to propel Thai tourism fully into the Smart Tourism era.
The platform aggregates tourism-related technologies and innovative solutions from start-ups and entrepreneurs nationwide, enabling real-world deployment across the entire Thai tourism value chain. Its objective is to build a strong tourism-innovation ecosystem through integrated collaboration across all sectors, while enhancing entrepreneurs’ capacity to apply innovation and technology suited to the specific contexts of different destinations.
This approach is designed to create premium tourism experiences for both domestic and international travellers, delivering sustainable economic and social benefits for Thailand. Importantly, the country will gain a continuously expandable tourism-innovation repository, strengthening long-term competitiveness in the global tourism market.
From Creative Power and Culture to Driving Thailand’s Tourism Economy
Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency, stated that the innovations featured on the platform will primarily be Travel Tech-related technologies. The platform is open to start-ups, entrepreneurs, developers, and business partners with the interest and capability to co-create elevated tourism experiences while advancing Thailand’s Smart Tourism ecosystem.
Currently, NIA supports and has incubated more than 80 high-potential tourism-technology start-ups and entrepreneurs, spanning areas such as community-based tourism (Local Alike), hospitality solutions (Ascend Travel), urban mobility (MuvMi), social impact marketplaces (SocialGiver), and backend customer-journey management systems (Appointment Anywhere). These solutions enable entrepreneurs and developers to access tools tailored to their specific contexts.
NIA believes that all stakeholders play a vital role in elevating Thailand’s tourism industry by integrating technology with creativity, culture, and local identity. This integration goes beyond artists, cuisine, or traditional culture, extending into tangible, scalable innovations that create new economic value for local communities.
Thai – Tech – Tourism: A Major Integrated Leap Forward
Dr Krithpaka further noted that tourism is one of the core engines of the global economy, particularly following recovery from the COVID-19 pandemic. According to data from the World Travel & Tourism Council (WTTC), in 2024 the global travel and tourism sector contributed USD 10.9 trillion, or 10% of global GDP, and supported 357 million jobs worldwide.
The United Nations World Tourism Organization (UN Tourism) has emphasised that innovation is a critical driver of economic growth, enabling new business models, attracting investment, and differentiating destinations through unique tourism formats.
Another crucial factor not to be overlooked is the global TravelTech investment ecosystem, which remains robust. In the post-pandemic era, major tourism companies have increased technology investment by an average of 14% in 2024, reflecting strong confidence in technology as a competitive advantage.
Key areas of investment focus include Smarter Retailing and Personalisation, which deliver highly tailored customer experiences; GenAI and Autonomous Agents, next-generation AI capable of analysing, planning, and executing tasks independently — such as automated travel recommendations, trip planning, and booking management; and Sustainability, with growing investment in start-ups that reduce carbon emissions through diverse solutions.
These global trends align closely with the capabilities and diversity of Thai start-ups, positioning Thailand to connect seamlessly with international movements and deliver truly tangible ‘Amazing’ experiences.
NIA stands ready to connect knowledge, technology, and innovation capital across public agencies, private enterprises, and Thai start-ups to drive concrete outcomes in the tourism-innovation ecosystem. This effort extends beyond enhancing tourism businesses; it represents the creation of a future-oriented industry that fuses creativity and culture with technological power.
Through this integrated approach, Thailand aims to elevate economic value, cultural richness, and sustainability — and to advance decisively towards becoming a Global Innovation Tourism Hub in a meaningful and lasting way.
Hashtag: #NIA #NationalInnovationAgency
The issuer is solely responsible for the content of this announcement.
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