Comment: Chinas logistics and warehousing market turns coldly and shows that the

Source: Bloomberg

The prosperity of the Chinese commercial real estate market showed signs of pressure, adding the dim prospects of the world's second largest economy industry.

The report of Dade Liangxing said that the vacancy rate of the high -end logistics warehousing market in East China rose in the fourth quarter of last year.The company's statistics show that the vacancy rate of the Shanghai market alone has soared from 9.8%in the third quarter to 15%.

Dede Liangxing's head of the Ministry of Industry and Logistics and Director Su Zhiyuan of the Ministry of Industry and Logistics and Real Estate of China pointed out that the vacancy rate of logistics and warehousing can well reflect China's economic activities because their tenants include companies in manufacturing, trade and e -commerce industries.He said that the "huge changes" in the field highlight the "three -driving carriage" that drives economic growth -the demand for investment, exports and consumption is declining.

Although fiscal and currency stimulus last year, weak demand and real estate crisis still put pressure on China's economic recovery.Economists predict that the economic growth in the fourth quarter has accelerated from 4.9%in the third quarter to 5.2%, but the decline in the logistics market is another sign of weak recovery.

In addition to Shanghai, the vacancy rates of high -end logistics and storage markets in Zhejiang and Jiangsu have also increased by 1.7 and 1.2 percentage points, respectively, to 21.6%and 17.2%.Su Zhiyuan said that these three regions are among the four major logistics markets in China.

Logistics Center has always been one of China's most sought -after commercial real estate assets, attracting institutional investors including Prove China, ESR Group LTD. and Huaping Investment.Even when the Chinese economy falls into a trough during the epidemic, the surge in online shopping has stimulated the demand for warehousing and other infrastructure.

Su Zhiyuan said that the sudden rise in vacancy rate indicates that the market has "greatly changed".

In the fourth quarter, the rents in the high -end logistics storage market in Shanghai and Zhejiang declined, and Jiangsu was flat, indicating that the rise in vacancy rates was more due to the shrinking demand.