Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}
three-core-elements-driving-china-s-new-economy-and-impacting-real-estate three-core-elements-driving-china-s-new-economy-and-impacting-real-estate

Three Core Elements Driving China’s ‘New’ Economy and Impacting Real Estate


China’s economy has entered a new era, the ‘new’ economy, which is led by technology growth and fuelled by innovation. This new economic era has seen a turning of the page – from a country that had been focused on development primarily through industry and dependent on investment and export-driven growth. In the process, China largely has shaken off the label of ‘Manufactured in China’ and has evolved to today’s moniker of ‘Created in China’ – the latter of which symbolises a vision for the future to drive economic growth and bring the country even greater prosperity.

China’s ‘new’ economy reflects the country’s embrace of three core elements, and these are namely:

  • Smart – in terms of being tech-enabled and intelligent with the onset of the Internet of Things (IoT);
  • Sharing – in terms of encouraging activities, behaviours and initiatives that promote collaboration and the efficient use of resources, and;
  • Green – in terms of creating and promoting sustainable development.

China, and the real estate sector in particular, has embraced the three core elements in order to be at the forefront of technology, innovation and sustainable development.

As China’s overall economy is expected to continue to advance in significant ways, these three core elements will thereby only increasingly come into play.

Impact on Real Estate

 Real estate properties in China are expected to be profoundly impacted now and in the future by the ‘new’ economy. This is given the fact that real estate, as a pillar of the overall economy, holds a vast number of touchpoints across a multitude of indicators – whether in terms of investment, consumer requirements, labour needs, space demand, energy consumption or resource use.

Ahead, the direction of real estate will undoubtedly be guided by the three core elements of smart, sharing and green. Each of the core elements contain a number of components that describe the ways in which the ‘new’ economy is being and will be manifested most intensely in the real estate sector. In particular, Cushman & Wakefield has identified 11 themes related to smart, sharing and green that are and will influence real estate in China. Namely, these are shown as follows:


Smart buildings‘Cognitive’ properties will become ever-more prevalent and will satisfy a growing user demand for occupied space that is capable of learning and acting in an independent manner.

Smart technology – Ground-breaking smart technologies like Blockchain, the Internet of Things and e-payment systems are transforming the ways in which commercial real estate is developed, used and traded.

Smart construction – New materials, technologies and construction methods are influencing the ways in which cities are being developed, providing China with new ways to make its built environment more sustainable.

Smart industryUnicorns and tech-focused start-ups are being rapidly established in China, and these smart industry players have a massive impact on the country’s commercial real estate landscape.

Smart transportation – Automated driving vehicles could usher in a new era of urban transportation in China, prompting shifts in real estate to accommodate growing demand for highly-connected, fast and convenient methods of travel.


Shared workspace – The co-working office sector has become a global phenomenon that has caught fire in China as occupiers seek more flexible and cost-effective office space.

Shared living – Rising housing costs in many Chinese cities, coupled with the changing nature of lifestyle among millennials, are fuelling demand for alternative living spaces, which is reflected in the growing co-living movement.

Shared mobility – Shared modes of transportation, including rental bikes and ride-hailing platforms, have exploded in popularity in China as travellers seek convenient, cost effective and green journeys to their destination.


Green buildings – Green commercial real estate in China is set to grow further in popularity as more building owners and space users realise the many potential benefits on offer, including financial advantages and sustainability.

Green technology – As awareness about the importance of sustainability continues to spread in China, so more newly built and existing buildings will be required to install energy- and resource-efficient green technology systems.

Green financing – Green financial instruments and services have emerged as new tools to fund sustainable projects, which are key to building low-carbon cities and promoting green building development in China.

Download the report here to read the full insight into China’s ‘new’ economy.

Related Insights

main streets across the world 2023

Main Streets Across the World 2023

In this 33rd edition of Main Streets Across the World, we’ll explore the near-term outlook for the retail sector; headline rent and ranking changes for best-in-class urban locations across the world; key indicators and global main street rankings; and key trends to watch such as the cost-of-living crunch, e-commerce and more.
Dominic Brown • 21/11/2023
Reworking the office
Research • Workplace

REWORKING the Office Asia Pacific

Our ‘REWORKING’ series examines decision-making for occupiers under four key considerations: Cost, Carbon, Culture and Community – under which the changing demands, needs and impacts on office spaces and strategies can be examined.
Grant Carter • 03/11/2023
Insights • Economy

Cushman & Wakefield Comments on URA private residential price index Q3 2023

Overall sales volume declined by 3.5% qoq in Q3 2023, reversing the past two consecutive quarters of increase. The fall in overall sales volume was driven by the new sales market, which declined by 8.5% qoq to 1,946 units in Q3 2023.
Xian Yang Wong • 27/10/2023

Related Stories

Dexcom Philippines New Office Fit-out Project
Dexcom Philippines • Healthcare
Learn More
Cushman & Wakefield Stories Philippines Inc. • Travel
Learn More
Cushman & Wakefield Stories
OMD Philippines • Advertising
Learn More
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All