"Shenzhen continues to distinguish itself as a launch market for emerging domestic brands seeking to establish flagship and first-store locations."

"While the overall leasing market was relatively calm, some Tech Giants’ office relocation brought about disruptions to the market and, together with the impacts of new completions, the citywide average vacancy rate increased."

"Despite the consumption downgrade which has been widely discussed lately, Shenzhen’s retail property market continues to benefit from support of policies, demographic advantages and Hongkongers’ “Go North to Spend” campaign, distinguishing itself from other GBA peers in terms of more diversified brand penetration."

"The emerging retail sectors such as ACGN have catalysed new consumption demand and that brings about more opportunities for shopping centres to diversify brand-mix in the next few years."

"Government’s subsidies will surely boost the local consumption market and support the further development of the first-store, new concept and flagship-store economy, propelling a more sustainable development of the local retail market and enhancing the impacts of regional catchments."

"Retailer sentiment was impacted by the marginal growth in the city’s retailsales and many retailers had to think twice before making a commitment ofupholding their new store opening plans."