BizChina
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- By David Cao
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Average rental rates of grade A offices in Beijing are expected to drop 1.2 percent year-on-year in 2018 during the peak time for office space, according to a report from real estate consultancy Colliers International.
A total of 11 new projects will be completed in 2018, with a gross area of 1 million square meters, to provide more leasable office space in the market, according to the report.
Besides, 14 percent of grade A offices in Beijing are expected to remain vacant by the end of 2018, compared with a vacancy rate of 8.3 percent in late 2017, the report said. Thanks to the strong economic performance last year, around 341,000 sq m of office space were rented out last year, up 77 percent over 2016.
Colliers International said the decrease in rentals this year is good for tenants to save money and make better decisions in selecting office addresses.
Property owners were suggested to improve quality and services under such circumstances, it said.
Last year, the average monthly rental price grew 0.4 percent to reach 331.8 yuan ($52.4) per square meter, due to steady demand and the introduction of new offices with relatively high rents, it said.
Demand was mainly from domestic companies in diverse industries, including finance, consulting, information technology, real estate, media and manufacturing.
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BYD's E-bus factory in Lancaster USA
China’s new energy carmaker BYD’s e-bus will be driving into Egypt as its second largest city Alexandria made an order of 15 vehicles on Jan 24 local time.
They will become the country’s first pure electric buses in history. The order also includes 18 charging poles.
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Just days after selling its Hong Kong retail business to franchise partner Al-Futtaim, Marks & Spencer has announced it will soon close its Tmall store in the mainland.
The move marks the complete withdrawal from the Mainland China market by the British department store operator, which is now focusing on the domestic market and leaving franchise partners to manage its brand elsewhere.
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Jan 9th 2018, Richard Yu, CEO of Huawei Consumer Business Group, unveils the Huawei Mate 10 Pro high-end smartphone in Las Vegas USA.
Huawei Technologies Co Ltd has won another patent victory in China over its South Korean competitor Samsung Electronics Co Ltd, amid increasingly fierce competition in the world's largest smartphone market.
The Shenzhen Intermediate People's Court ruled on Thursday in favor of Chinese smartphone-maker Huawei, issuing a ban on Samsung infringing the firm's intellectual property rights by manufacturing and selling products that use its patented wireless communication technologies.
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Yangshan Port Phase IV in Shanghai in Dec 2017.
China's foreign trade volume rose 14.2percent year on year to 27.79 trillion yuan ($4.28 trillion), ending the previous continuous drop of the previous two years, official data showed Friday.
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