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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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Asian Smart Medical Online Exhibition 2026: Connecting Smart Medical Suppliers with Global Buyers

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TAIPEI, TAIWAN –

Organized by AsianNet and TradeAsia (www.e-tradeasia.com), Medical Asia has been successfully facilitating international medical trade since its launch in 2024 , earning a strong reputation for high-quality participation and tangible business outcomes. In 2026, Medical Asia extends its exhibition period to strategically align with major global healthcare and medical industry events, including Medical Design & Manufacturing West, Arab Health, HIMSS Global Health Conference & Exhibition, MEDICAL JAPAN [Osaka], and Hospitalar Sao Paulo. This extended timeline enables international buyers to engage with multiple key events simultaneously, creating a more efficient and streamlined sourcing experience.

By participating in Medical Asia 2026, exhibitors can expect enhanced global exposure, broader networking opportunities, and increased potential for sustainable business growth, all while reaching a larger and more diverse international buyer base through a flexible and cost-effective hybrid exhibition model.

Medical Asia 2026 features a robust lineup of respected Taiwanese manufacturers, including industry leaders such as Perfect Medical and many more. These companies will present thousands of the latest smart medical industry products and technologies, covering a wide array of sectors crucial to modern manufacturing and production.

The event will feature an extensive selection from top manufacturers, covering categories such as Medical Devices & Clinical Equipment, Medical Supplies & Nursing Consumables, Healthcare Facility Furniture & Logistics Equipment, Emergency & Clinical Patient Monitoring Equipment, Rehabilitation & Physiotherapy Equipment / Consumables, Pharmaceutical Manufacturing, Packaging & Inspection Machinery, Medical-grade Wearables & Remote Patient Monitoring (RPM) Devices, Clinical Laboratory & IVD Analyzers, Medical-grade Materials & Components (Plastics / Rubber / Silicone, etc.), and Home Health Care Products. With thousands of the latest products, accessories, and equipment on display, the exhibition promises to be both comprehensive and highly professional. Attendees will gain valuable insights into the latest innovations and developments across the smart medical industry.

Visit the Online Exhibition:
https://www.etradeasia.com/online-show/42/Asian-Smart-Medical-Online-Exhibition-2026.html

In today’s rapidly evolving global environment, online platforms play a crucial role in breaking geographical barriers and extending marketing reach. In response to this growing demand, Medical Asia 2026 offers a comprehensive suite of innovative digital exhibition solutions, including dedicated exhibitor pages, electronic catalogs, and virtual exhibition halls. These digital tools are seamlessly integrated with TradeAsia, enabling international buyers worldwide to effortlessly discover exhibitors and explore products in depth. Through the platform, buyers can visit individual manufacturer pages, review detailed product information, submit inquiries, and communicate with exhibitors via real-time messaging. This highly interactive and user-friendly experience facilitates smooth communication, enhances buyer engagement, and fosters meaningful business connections between exhibitors and global buyers, ultimately creating valuable commercial opportunities.

TradeAsia (www.e-tradeasia.com) has been providing comprehensive B2B international trade services for buyers and sellers worldwide since 1997. With nearly three decades of industry experience, TradeAsia is recognized as one of the most established and professional global trade platforms. Today, the platform serves millions of members worldwide, featuring more than 600,000 verified suppliers and millions of up-to-date product listings across diverse industries. Every day, thousands of professional buyers from around the world use TradeAsia to source products, connect with suppliers, and explore new business opportunities. As a leading trade promotion channel in Asia, TradeAsia continues to facilitate efficient cross border trade and foster long term partnerships between global buyers and suppliers.

TradeAsia also collaborates with hundreds of trading organizations around the world to exchange marketing and promotional opportunities. As a result, suppliers who showcase their products on TradeAsia gain the chance to be featured across the publicity channels of multiple trade platforms and exhibition organizers worldwide, greatly enhancing their international visibility and marketing reach. In addition, during the period of Medical Asia 2026, promotional messages will be broadcast globally, further amplifying exposure for participating suppliers and connecting them with a wider international audience.

Hashtag: #TradeAsia

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Carbyne Fitness and IFPA Singapore Publish Study Revealing the Gender Gap Between Personal Training and Home Gyms

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SINGAPORE – Media OutReach Newswire – 3 February 2026 — A new joint study by Carbyne Fitness and IFPA Singapore has revealed a striking and persistent gender divide in Singapore’s fitness habits: while 80% of home gym users are male, over 60% of individuals actively seeking personal trainers are female.

The findings, based on Carbyne Fitness’ customer data and an online database of personal training enquiries compiled by IFPA Singapore’s personal trainers, point to two fundamentally different approaches to exercise motivation and engagement between men and women.

A Tale of Two Fitness Journeys
The data suggests that men overwhelmingly prefer self-directed fitness, buying equipment such as adjustable dumbbells, benches, and racks for home use. Women, on the other hand, are more inclined toward guided training experiences led by certified professionals.

According to Brian Chang, founder of Carbyne Fitness and IFPA Singapore, this split reveals not just gender preferences, but deeper social and psychological factors shaping how Singaporeans exercise.

“Men often see fitness as something they should be able to handle on their own, like asking for help somehow means they’re not strong enough,” said Chang. “That’s why many men would rather train themselves than work with a coach. Ladies, on the other hand, are usually more open to learning and getting guidance. They see working with a coach not as weakness, but as a smart way to improve safely and effectively.”

The Male Home Gym Boom
The pandemic sparked a surge in home gym investments, and Carbyne Fitness has been at the forefront of this trend. Its adjustable dumbbells and adjustable kettlebells have become popular among working professionals looking to save time and train efficiently at home.

Carbyne Fitness’ customer data revealed that four in five customers are male. “The home gym trend among men is here to stay,” Chang explained. “They appreciate the convenience, privacy, and long-term savings. For many, it’s not just fitness equipment, it’s a personal investment in staying strong and independent as they age.”

However, with about 58% of Carbyne Fitness customers living in HDB flats, 26% in condominiums, and 16% in landed properties, many still hold the misconception that home workouts, especially in smaller HDB or condo spaces, aren’t practical or effective. Landed property owners make up less than 5% of Singapore’s dwellings, yet account for 16% of Carbyne Fitness’ customers.

Dwelling Type National Share (SingStat) Carbyne Customer Share Index (Representation)
HDB (Public Housing) 72.0% 58.5% 0.81 (Under-indexed)
Condominiums 23.3% 25.6% 1.10 (Over-indexed)
Landed Properties 4.7% 15.9% 3.38 (Heavily Over-indexed)

“One of the most common reasons people give for not buying home gym equipment is that they ‘don’t have the space,'” said Chang. “But in reality, a proper home setup doesn’t need much room; a good pair of adjustable dumbbells and a bench can fit comfortably within just one square meter if you choose the right equipment.”

Why Women Seek Trainers
In contrast, IFPA Singapore’s training enquiries show that a majority of personal training clients are female. Of the 392 Singapore-based individuals who sought personal training, 63% were women, even though men still represent the majority of gym members nationwide.

Category Male % Female % Dominant Characteristic
Home Gym Buyers (Carbyne) 80% 20% High Autonomy
PT Seekers (IFPA) 37% 63% Guidance Seeking
Population (DOS 2025) 49.3% 50.7% Balanced

“This reflects a growing confidence among women to take charge of their fitness journey,” said Chang. “But it also shows that women tend to prioritize safety and proper form. They are more willing to invest in expert guidance rather than risk injury from unguided workouts.”

Many female clients, Chang adds, have goals that extend beyond appearance: postnatal recovery, strength for caregiving, or functional fitness for daily life.

“It’s not just about aesthetics anymore,” he said. “Women are recognizing that strength training builds long-term resilience, both physically and mentally.”

Implications for Singapore’s Fitness Industry
The gender divide uncovered by Carbyne Fitness and IFPA Singapore also points to structural gaps in how Singapore’s fitness ecosystem is organized, particularly the limited avenues for personal trainers to operate independently.

Most commercial gyms and public facilities, including ActiveSG gyms, do not permit outside personal trainers to conduct sessions within their premises. Trainers who are not employed directly by these gyms are often barred from coaching clients on-site, regardless of their certification or insurance coverage.

This restriction limits both consumer choice and career opportunities within the industry. For clients, especially women who prefer guided training but may not want to commit to an expensive gym membership, the policy creates a barrier to accessing affordable, flexible coaching. For freelance trainers, it restricts their ability to build a sustainable practice or serve niche communities such as seniors, postnatal women, or first-time exercisers.

“Many independent trainers tell us their biggest challenge isn’t finding clients; it’s finding space,” said Chang. “There’s a clear demand for affordable, accessible training environments, but the system hasn’t caught up yet.”

As a result, more trainers have turned to parks, void decks, or private studios, and a growing number of clients are exploring home-based personal training, sometimes with only a pair of resistance bands. This shift reflects broader lifestyle preferences: Singaporeans want convenience, privacy, and trust, not just a gym membership.

The study suggests that expanding access to personal training across shared and public fitness spaces could help Singapore move toward a more inclusive, community-driven fitness culture, one that empowers both male and female participants to train safely, confidently, and sustainably at every stage of life.

Volunteering for the Silver Generation
Both Carbyne Fitness and IFPA Singapore are working to build a more inclusive fitness culture through the Silver Strength volunteer program, which runs weekly strength sessions for seniors using resistance bands, adjustable dumbbells, and other small equipment at Active Ageing Centers across Singapore.

The initiative, funded by the National Youth Council, empowers older adults to stay strong, mobile, and independent, while giving volunteers the chance to make a direct impact in their communities.

“Silver Strength is more than fitness. It is about bridging intergenerational gaps and helping seniors live confidently and age with strength,” said Chang.

To sign up as a volunteer, visit getcertifiedpt.com/silver-strength.

About the Study
The gender distribution insights were derived from:

  • Carbyne Fitness customer data, representing over 1,000 unique customer interactions across Singapore between January 2024 and September 2025.
  • IFPA Singapore’s independent observation of 392 prospective client profiles compiled between October 2025 and December 2025.

While the sample sizes differ, both data sets converge on a clear narrative: Singapore’s home gym market is predominantly male, while personal training demand is female-driven.

The full research can be accessed on https://carbyne.sg/blogs/articles/revealing-the-gender-gap-between-personal-training-and-home-gyms.
Hashtag: #CarbyneFitness

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

About Carbyne Fitness

Carbyne Fitness is a Singapore-based fitness equipment company focused on delivering space-efficient, performance-driven home gym solutions for modern lifestyles. Best known for its space-saving gym equipment such as adjustable dumbbells and foldable treadmills, Carbyne helps professionals, families, and seniors train effectively at home without compromising on quality or safety.

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About IFPA Singapore

IFPA Singapore, operated by Get Certified PT, is the official Singapore operator of the International Fitness Professionals Association (IFPA), delivering internationally accredited personal training education and professional development. IFPA Singapore focuses on producing industry-ready practitioners through competency-based, real-world training.

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Luyuan Group Participates in Key Event Celebrating the 50th Anniversary of China–Thailand Diplomatic Relations, Promoting Youth Exchange

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BANGKOK, THAILAND – Media OutReach Newswire – 3 February 2026 – Since January 14, the two-week “Boundless Creativity, Youth Connection” China–Thailand Youth Cultural Exchange Series officially kicked off in Bangkok. Over 500 representatives from various sectors and university students in both countries gathered for this cross-border cultural engagement. Jointly organized by China’s Intercontinental communication center (CICC) and Chulalongkorn University, and supported by Thailand’s Ministry of Culture, Ministry of Interior, and the Office of the Prime Minister, the event serves as a robust platform for deepening youth exchange between the two nations. Luyuan Group, together with its global brand LYVA, was invited to participate, showcasing innovative products to foster cross-cultural youth engagement.

As part of the program, Luyuan Group co-launched the “Ride with Panda, Toward the Future Together” China–Thailand Youth Friendship Ride. Young participants from both countries rode Luyuan motorbike featuring the panda mascot “A Pu” through iconic Bangkok landmarks, symbolizing the vitality and enduring friendship between China and Thailand.

As an invited corporate representative, Luyuan Group donated a panda-themed motorbike to Dhurakij Pundit University, encouraging youth to document cultural and exchange stories through action. This appearance highlighted Luyuan’s commitment to social responsibility and cultural influence, while also showcasing the Group’s progress in accelerating global expansion through its brand LYVA. Currently, Luyuan’s business footprint spans over 80 countries and regions.

Looking ahead, Luyuan Group will continue to collaborate with global partners to explore new paths in green mobility and contribute to sustainable development worldwide.

In addition, the event also featured the “Gifts from China” exhibition, themed around the 50th anniversary of China–Thailand friendship. Organized with the support of the China National Arts and Crafts Society’s Pattern R&D Center, the Pattern Museum, and Qilin Co-creation, the exhibition brought together numerous Chinese heritage brands, attracting significant interest from young attendees from both countries.

Among the highlights was the debut of the “The Eight Horses of Contemporary Prosperitye” — a horse-themed pattern co-created by the Pattern Museum and artist ZHENG CHONG in celebration of the Year of the Horse — adding rich cultural depth to the event. Contemporary artworks by Xu Shanxun from Mogu Gallery, along with leading Chinese brands such as GELASIGE, Beyond Home Textiles, and Youji Jewelry, further embodied the vibrant reach of Chinese culture abroad.
Hashtag: #LuyuanGroup

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