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Hang Lung Properties Launches Community · Connect as it marks its 65th Anniversary

Three entrepreneurs welcomed alongside the “Well-Being · Start-Up 2.0” program initiated by the Hong Kong Housing Authority


Program will provide rent-free shops and marketing support to empower young people in realizing their creative dreams

HONG KONG SAR & SHANGHAI, CHINA – Media OutReach Newswire – 28 August 2025 – As part of an initiative that supports the Hong Kong Housing Authority’s “Well-Being · Start-Up 2.0” Program, Hang Lung Properties Limited (SEHK stock code: 00101) (the “Company” or “Hang Lung”) has provided three shops for young entrepreneurs at different locations in Hong Kong. In celebration of Hang Lung’s 65th anniversary, the project is the first initiative in Hong Kong as part of its new community investment philosophy, Community · Connect, designed to empower young entrepreneurs and cultural startups to thrive. Yesterday, the Hong Kong Secretary for Housing, Ms. Winnie Ho Wing-yin, visited one of the stores to meet with young entrepreneurs, offering her advice and encouragement.

Mr. Kenneth Chiu, Chief Financial Officer of Hang Lung Properties (second from the right) and the Secretary for Housing, Ms. Winnie Ho Wing-yin (third from the right) visits the store at Peak Galleria to learn about the brand concepts and products of the three young entrepreneurs
Mr. Kenneth Chiu, Chief Financial Officer of Hang Lung Properties (second from the right) and the Secretary for Housing, Ms. Winnie Ho Wing-yin (third from the right) visits the store at Peak Galleria to learn about the brand concepts and products of the three young entrepreneurs

As a supporting partner of the “Well-Being · Start-Up 2.0” program, Hang Lung has selected three outstanding young entrepreneurs from nearly 80 applications and lent premium shops at Peak Galleria, Kornhill Plaza and Amoy Plaza. This initiative provides entrepreneurs with a real operating environment where they can test business concepts and interact directly with customers to explore market opportunities. As well as the rent-free operating period, Hang Lung has also provided renovations, comprehensive marketing support and brand exposure platforms to reach potential customers, helping them explore the retail market and realize their entrepreneurial ambitions.

Mr. Kenneth Chiu, Chief Financial Officer of Hang Lung Properties (third from the right), the Secretary for Housing, Ms. Winnie Ho Wing-yin (second from the left) and Ms. Evelyne Fung, Chief Estate Surveyor/Commercial Properties of the Housing Department (first from the right) at a sharing session with the three young entrepreneurs
Mr. Kenneth Chiu, Chief Financial Officer of Hang Lung Properties (third from the right), the Secretary for Housing, Ms. Winnie Ho Wing-yin (second from the left) and Ms. Evelyne Fung, Chief Estate Surveyor/Commercial Properties of the Housing Department (first from the right) at a sharing session with the three young entrepreneurs

Ms. Winnie Ho Wing-yin, Secretary for Housing, said, “The success of the ‘Well-Being · Start-Up 2.0’ program is an excellent example of the value of public-private partnerships. I would like to express my heartfelt gratitude to Hang Lung Properties for its support in expanding our program to the private sector, providing a tangible platform for aspiring young entrepreneurs to launch their innovative ideas in a real market environment. These creative young people have injected new impetus into the community and Hong Kong’s retail industry, and will encourage more start-ups to realize their ambitions.”

The three winning entrepreneurs sharing their entrepreneurial journey with the Secretary for Housing, Ms. Winnie Ho Wing-yin (first from the right)
The three winning entrepreneurs sharing their entrepreneurial journey with the Secretary for Housing, Ms. Winnie Ho Wing-yin (first from the right)

Through a range of community investment projects, Hang Lung’s Community · Connect aims to promote career diversity for young people, encourage entrepreneurship, promote creativity and cultural development, and champion community health and inclusion.

The stores run by the three young entrepreneurs were officially opened at Peak Galleria, Kornhill Plaza and Amoy Plaza respectively, realizing their entrepreneurial dreams
The stores run by the three young entrepreneurs were officially opened at Peak Galleria, Kornhill Plaza and Amoy Plaza respectively, realizing their entrepreneurial dreams
The stores run by the three young entrepreneurs were officially opened at Peak Galleria, Kornhill Plaza and Amoy Plaza respectively, realizing their entrepreneurial dreams
The stores run by the three young entrepreneurs were officially opened at Peak Galleria, Kornhill Plaza and Amoy Plaza respectively, realizing their entrepreneurial dreams

Mr. Kenneth Chiu, Chief Financial Officer of Hang Lung Properties, said, “Community · Connect is an important milestone for Hang Lung to celebrate its 65th anniversary and a concrete action to give back to the community by implementing our ‘We Do It Well’ core value. We launched the program at Grand Gateway 66 in Shanghai, receiving an enthusiastic response and achieving encouraging results. Hang Lung is delighted to partner with the Housing Authority to support young entrepreneurs in shopping malls across Hong Kong. Our role extends beyond providing physical retail spaces; we emphasize ‘empowerment’ – helping entrepreneurs transform their unique ideas into sustainable businesses while delivering a richer and more diverse retail experience to customers.”

In July, Hang Lung launches its first pilot, “Summer Retro Market” at Grand Gateway 66 in Shanghai as an initiative under Community · Connect. The two-weekend-long market brings together more than 40 emerging brands led by young people, provides them with a rent-free exhibition platform, allows creativity and business to collide, and helps young entrepreneurs explore the market and realize their dreams
In July, Hang Lung launches its first pilot, “Summer Retro Market” at Grand Gateway 66 in Shanghai as an initiative under Community · Connect. The two-weekend-long market brings together more than 40 emerging brands led by young people, provides them with a rent-free exhibition platform, allows creativity and business to collide, and helps young entrepreneurs explore the market and realize their dreams
In July, Hang Lung launches its first pilot, “Summer Retro Market” at Grand Gateway 66 in Shanghai as an initiative under Community · Connect. The two-weekend-long market brings together more than 40 emerging brands led by young people, provides them with a rent-free exhibition platform, allows creativity and business to collide, and helps young entrepreneurs explore the market and realize their dreams

Further Community · Connect activities will be held in Jinan and Kunming in October, and will return to Hong Kong in December.

AppendixAbout the three start-ups and their sharing

LAM WING SUM is a local sustainable fashion brand that brings imagination to life while promoting a sustainable future. With the “The Art of Mending” philosophy, the brand celebrates imperfection and highlights beauty through techniques like Sashiko and mending. Location: Shop 218, Level 2, Peak Galleria, 118 Peak Road, The Peak

The founder, Lam Wing Sum commented: “As a local fashion designer, it isn’t easy to set up a store in Hong Kong, with rental costs the biggest challenge. With the support of Hang Lung, the opening of our first physical store at the landmark of Peak Galleria is an important milestone. It allows me to connect with travelers from all over the world, which is perfect for promoting my design philosophy of combining environmental protection and handicrafts. Thank you, Hang Lung, for providing such a valuable opportunity for local creativity.”

Rosemania & Co. was first introduced online in 2024. The brand celebrates eternal love through preserved flowers with its unique designs, offering exquisite products such as preserved flower glass domes, bouquets, memory capsules, and more. Location: Shop S5a, Kornhill Plaza South, 1-2 Kornhill Road, Quarry Bay

Said the founder Christine Lau: “I am very grateful to Hang Lung for their support for young entrepreneurs, providing rent-free shops, but also for supporting on marketing, which made me deeply feel the importance and dedication they put into this project. The Hang Lung team has been hugely attentive and considerate of us at every turn, which has given me greater confidence to develop my business even more. I already have a stable customer base in Hong Kong Island East, and Kornhill Plaza itself is a community I am familiar with, so being able to open here has added a sense of community and helped me reach more family customers and realize my original intention of connecting with people through floral art.”

PokeCard specializes in Pokémon and sports cards, offering a wide range of card boxes and graded cards to satisfy the needs of players and collectors. The shop reignites the classic joy of physical cards in the digital age and celebrates the spirit of card-playing culture through events and competitions. Location: Shop F126-127A, 1/F, Phase 1, Amoy Plaza, 77 Ngau Tau Kok Road, Kowloon Bay

“I grew up around the neighborhood of Amoy Garden and have a special affection for it,” said the founder, Ricky Siu. “Thank you to Hang Lung for giving me this unique opportunity to provide complete equipment and rent-free support to promote card culture and build a physical community. The store space allows me to host Pokémon championship events, which is an application criteria to become an official Pokémon gym and also enhances the brand’s professionalism. Through this platform, I hope to turn my hobby into a career and connect with more like-minded players.”

Hashtag: #HangLungProperties

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

About Hang Lung Properties

Hang Lung Properties Limited (SEHK stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong and Shanghai, the Company manages a portfolio of over 3.5 million square meters of retail, office, residential, and hotel properties across Hong Kong and mainland China.
The Company’s diverse portfolio in Hong Kong includes office towers and malls in prime districts, as well as luxury residential developments in prestigious areas. In mainland China, under the signature “66” brand, the Company’s mixed-use and retail developments are regarded as premium landmarks, strategically located in the hearts of key cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan, and Hangzhou.
The Company is recognized for pioneering sustainability in the real estate industry, with an MSCI ESG rating of AA and inclusion on CDP “A List” for Climate Change. The Company powers 80% of its operating properties in the Mainland with renewable energy, with a net-zero commitment by 2050.
At Hang Lung Properties – We Do It Well.
For more information, please visit .

Dog Poisoning Crisis in Laos: One Man’s Fight for Justice

Dog poisoning has long been an issue in Laos, with cases of pets being poisoned and kidnapped continuing to put owners on edge. 

Laos Launches Commercial Operations of Southeast Asia’s Largest Wind Farm

Laos launched its first wind power project on 22 August.  

The 600-megawatt Monsoon Wind Power Project is Southeast Asia’s largest onshore wind farm and Asia’s first cross-border renewable energy venture. It’s now begun supplying electricity to Vietnam Electricity (EVN).

Strategic Location and Scale

Spanning two southern provinces, Dak Cheung District in Sekong and Sanxay District in Attapeu, the 133 turbines are positioned along mountain ridgelides at elevations between 1,100 and 1,700 meters above sea level.

Each turbine generates 4.51 megawatts of electricity, enough to power roughly 3,000-4,000 households.

Electricity is being delivered through four 115-kilovolt substations, stepped up to 500 kV, and transmitted along a 27-kilometre high-voltage line to the Lao-Vietnam border, then onward to EVN’s Thanh My substation in Vietnam.

A Decade-Long Journey

Laos signed an agreement with the International Energy Agency in 2011 to study large-scale wind potential. After identifying Sekong and Attapeu as prime sites in 2015. 

Later in September 2019, the Vietnamese government approved the wind project, saying it could safely connect to the power grid in Vietnam. 

Construction began in April 2023. The first turbine was installed in October that year, and by May 2025, all 133 turbines were installed.

In July, the wind farm was operating at half capacity with 300 megawatts, according to Deputy Governor of Sekong Province, Khanti Seelavongsa.

International Partnership and Investment

The USD-950-million venture showcases unprecedented regional cooperation. 

“The project not only delivers renewable energy at scale but also demonstrates how ASEAN countries can work together for a cleaner, more sustainable future,” said Nat Hutanuwatr, Managing Director of Monsoon Wind Power.

Over its 25-year lifespan, the facility will prevent 32.5 million tonnes of Carbon dioxide emissions, or approximately 1.3 million tonnes of Carbon dioxide annually, equivalent to removing seven million cars annually or planting 59 million trees for a quarter-century.

WuXi Biologics’ Near-Term and Net-Zero Targets Approved by SBTi

  • Committed to net-zero across the value chain by 2050
  • Aligned with 1.5°C mitigation pathways, the most ambitious SBTi designation
  • Leader in Green CRDMO to drive innovation for a healthier future

SHANGHAI, Aug. 28, 2025 /PRNewswire/ — WuXi Biologics (2269.HK), a leading global Contract Research, Development, and Manufacturing Organization (CRDMO), today announced its near-term and net-zero greenhouse gas (GHG) emissions reduction targets have been approved by the Science Based Targets initiative (SBTi).

WuXi Biologics is one of the first companies in the industry to receive approval for near-term and net-zero targets from SBTi, a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating climate change by setting goals to reduce greenhouse gas (GHG) emissions.

Deeply understanding the importance of tackling climate change, WuXi Biologics has adopted a broad, integrated strategy with measurable targets and a refined roadmap. The company set a GHG emission intensity reduction target in 2021, established an operational net-zero target in 2022, and introduced new, ambitious SBTi targets in 2025. Aligning with 1.5°C pathways to limit global warming, the SBTi target matrix covers Scope 1, 2, and 3 GHG emissions, and includes near-term and net-zero targets.

While diligently pursuing its own climate goals, WuXi Biologics also actively engages with its suppliers through comprehensive sustainable supply chain management to help achieve positive impacts across the entire value chain.

Dr. Chris Chen, CEO of WuXi Biologics and Chairman of its ESG Committee, commented, “We are delighted that our near-term and net-zero GHG targets have been approved by SBTi, an acknowledgement that further inspires our steadfast dedication to tackling climate change and leading the way to a net-zero economy. As a global leader in Green CRDMO, we consistently deliver ESG excellence, enable partners worldwide with end-to-end solutions, and work together with all stakeholders to promote responsible practices.”

As a participant of the United Nations Global Compact (UNGC) and Pharmaceutical Supply Chain Initiative (PSCI), WuXi Biologics proactively advocates sustainability and has earned widespread recognitions for its efforts. The company was granted an MSCI AAA Rating; awarded an EcoVadis Platinum Medal; listed in the Dow Jones Sustainability Indices (DJSI); named to the CDP Water Security “A List” and Supplier Engagement Assessment “A List”, and awarded a CDP Climate Change leadership-level “A-” score for two consecutive years; given the highest negligible-risk rating by Sustainalytics, and recognized as a Sustainalytics industry and regional ESG top-rated company for five consecutive years; selected as a Constituent of the FTSE4Good Index Series; listed in the Hang Seng ESG 50 Index; and rated as Prime by ISS ESG Corporate Rating.

WuXi Biologics’ SBTi Target Matrix

Overall Net-Zero Target

Reach net-zero greenhouse gas emissions across the value chain by 2050.

Near-Term Targets

Reduce absolute scope 1 and 2 GHG emissions 58.8% by 2034 from a 2024 base year; reduce scope 3 GHG emissions covering purchased goods and services 63.8% per kg of product produced within the same timeframe.

Long-Term Targets

Reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2024 base year; reduce absolute scope 3 GHG emissions covering purchased goods and services, capital goods, fuel and energy-related activities, upstream transportation and distribution, waste generated in operations, and employee commuting 90% within the same timeframe.

About SBTi

The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. 

It develops standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest.

The SBTi is incorporated as a charity, with a subsidiary which will host its target validation services. Its partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).

About WuXi Biologics

WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide.

With over 12,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of June 30, 2025, WuXi Biologics is supporting 864 integrated client projects, including 24 in commercial manufacturing.

WuXi Biologics regards sustainability as the cornerstone of long-term business growth. The company continuously drives green technology innovations to offer advanced end-to-end Green CRDMO solutions for its global partners while consistently achieving excellence in Environment, Social and Governance (ESG). Committed to creating shared value, it collaborates with all stakeholders to foster positive social and environmental impacts, and promote responsible practices that empower the entire value chain. 

For more information about WuXi Biologics, please visit: www.wuxibiologics.com

Contacts

ESG
esg@wuxibiologics.com

Media
PR@wuxibiologics.com

Silks Hotel Group Redefines Hospitality: A Gateway to Taiwan’s Culture

TAIPEI, Aug. 28, 2025 /PRNewswire/ — Travel is more than a brief escape from everyday life—it is a journey to rediscover emotions and connections. Guided by the philosophy of “to serve as we would like to be served,” Silks Hotel Group extends world-class hospitality into meaningful cultural encounters.

With 14 properties across Taiwan, the Group invites international travelers to begin their cultural discovery from the hotel itself, venturing into local traditions, landscapes, and human connections that make Taiwan unique.

Silks Hotel Group Redefines Hospitality: A Gateway to Taiwan’s Culture
Silks Hotel Group Redefines Hospitality: A Gateway to Taiwan’s Culture

Silks Place Tainan: Tea Ritual × City Walks

At Silks Place Tainan, guests are welcomed with the southern tradition of offering hot tea, accompanied by the warm invitation “Have some tea and stay a while.” Beyond a gesture of hospitality, it is a cultural symbol. The hotel also offers guided “city walks” through historic streets and landmarks, providing new perspectives on Taiwan’s oldest city and its rich cultural heritage.

Just Sleep Tainan Hushan: Convenient Access × Arts & Culture

Just Sleep Tainan Hushan blends modern design with cultural convenience. Guests can easily visit the nearby Ten Drum Cultural Village to experience lively drumming performances in historic sugar factory buildings, or spend an afternoon at the world-renowned Chimei Museum, home to Western art, musical instruments, and natural history collections. More than just a place to stay, the hotel is the perfect base for exploring Tainan’s vibrant cultural landscape.

Wellspring by Silks Beitou: Artist Residencies × Hot Spring Heritage × Okami Hospitality

Wellspring by Silks Beitou enriches the hot spring retreat with art and history. The hotel regularly hosts artist-in-residence programs and creative workshops, while guided walks to the famed Thermal Valley reveal geothermal landscapes and hot spring traditions dating back to the Japanese era. Inspired by the Japanese Okami tradition of attentive service, Wellspring ensures each guest feels warmly cared for, transforming a short retreat into a memorable journey of cultural connection and gracious hospitality.

Regent Taipei: Butler Service × Locally Inspired SPA × Regent Academy

Located in the heart of the capital, Regent Taipei represents the pinnacle of luxury hospitality in Taiwan. As the first hotel in the country to introduce English butler service over 30 years ago, Regent has since trained more than one hundred professional butlers, offering personalized, around-the-clock care. From thoughtful turndown to every detail of daily living, butler service has become one of Regent’s defining hallmarks. The award-winning Wellspring SPA highlights locally inspired treatments, including the Oriental Beauty Tea SPA using tea leaves from Hsinchu, the Salt Rejuvenation Therapy celebrating the heritage of Chiayi’s salt fields, and the Ginger Warming Ritual infused with mountain-grown ginger from eastern Taiwan. Each blends natural elements with expert techniques to deliver cultural as well as physical rejuvenation. At the same time, the Regent Academy enriches the guest journey with curated cultural programs: guided tours of Dadaocheng, temple rituals, pineapple pastry workshops, fragrance blending, qipao photography sessions, and even shrimp fishing accompanied by a Regent butler. These experiences extend beyond dining and accommodations, allowing guests to build lasting connections with Taiwan’s culture, cuisine, and lifestyle.

Every Gesture of Hospitality Is an Invitation to Culture

These thoughtful details reflect Silks Hotel Group’s vision of redefining hospitality as a bridge to cultural discovery. For international travelers, staying at Silks is more than rest—it is a warm invitation. Without rushing itineraries or language barriers, guests begin their cultural exploration the moment they check in.

Silks Hotel Group affirms its commitment to deepening ties with local culture and transforming the hotel stay into a meaningful bridge of exchange—welcoming travelers from around the world to enjoy not only comfort and service, but also authentic access to the spirit of Taiwan.

USS Hornet Museum to Host Event Commemorating U.S.-China Cooperation in WWII


BEIJING, CHINA – Media OutReach Newswire – 28 August 2025 – A joint event marking the 80th anniversary of the Allied victory in World War II will be held at the USS Hornet Sea, Air & Space Museum on August 30, highlighting the shared experiences of U.S. and Chinese forces during the conflict.

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Under the theme of “Remembering History, Cherishing Peace, Honoring Heroes, and Building the Future,” the event will bring together Chinese and American guests, including scholars and descendants of commanders who served in the China-Burma-India Theater.

Members of U.S. Gen. Joseph Stilwell’s family are expected to attend, including his grandson John Easterbrook and great-granddaughters Nancy Millward and Susan Cole. Stilwell, who led American forces in the region, is remembered as a key figure in U.S.-China wartime cooperation.

Stilwell’s name is most closely associated with the Stilwell Road, a strategic supply route built during World War II to connect the northeastern Indian town of Ledo with Yunnan’s provincial capital, Kunming, via Tengchong. Spanning 1,726 kilometers, the route transported more than 50,000 tons of supplies to Chinese battlefields.

Construction of the highway began in 1942, involving American army engineers, as well as Chinese, Indian, and Burmese workers who faced challenging conditions of jungle, swamps, and mountains. While U.S. bulldozers were airdropped into remote areas, much of the work relied on manual labor. The dangers and difficulties encountered along the way gave the route the nickname “A Man a Mile Road.”

Completed in early 1945, the road played a vital role in sustaining Chinese forces until Japan’s surrender later that year. Today, portions of the route have been rebuilt into modern highways, facilitating trade between China and neighboring countries.

The August 30 event will look back at this history while also emphasizing the importance of future cooperation. Organizers said the commemoration is intended to honor those who contributed to the war effort and to remind younger generations of the value of peace and international partnership.

For the Stilwell family, the event reflects both personal and historical ties. “The friendship forged during those years continues to be remembered,” one organizer said, noting that Stilwell’s descendants see the commemoration as both a remembrance and a reaffirmation of connections built eight decades ago.

Hashtag: #CGTN

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

SM scales up J.O.B.S. program to bridge skills gap and expand employment opportunities in PH workforce

PASAY CITY, Philippines, Aug. 28, 2025 /PRNewswire/ — The SM Group is expanding its J.O.B.S. (Jobs Opportunities Building Skills) program by integrating skills training into its nationwide job fairs, further aligning its efforts with the country’s push to address the skills gap and strengthen workforce readiness.

Launched in partnership with the Technical Education and Skills Development Authority (TESDA), the initiative goes beyond job matching by providing access to TESDA-accredited training programs. This dual approach equips job seekers not only with employment opportunities but also with relevant skills to thrive in an evolving job market.

“Just as we at SM rely on the competence of our people to grow, we also want to contribute to the country’s goal of helping Filipinos secure meaningful employment. Through our partnership with TESDA, we aim to expand opportunities that combine access to jobs and skills development, enabling inclusive growth in the communities that we serve,” said Frederic C. DyBuncio, President and CEO of SM Investments Corporation.

TESDA Deputy Director Nelly Dillera emphasized the program’s role in advancing sustainable livelihoods. “This partnership with SM marks a significant milestone in bringing jobs and skills development directly to the Filipino people. By combining employment access with targeted training opportunities, we are creating a more responsive and inclusive pathway to sustainable livelihoods—right where communities live, shop and gather.”

SM continues to broaden its partnerships to expand the reach and impact of its job fairs. Sector-focused initiatives have been launched in supply chain, logistics, and retail industries, while collaborations with the Department of Health (DOH) support recruitment in the healthcare sector. SM has also participated in career fairs organized by the People Management Association of the Philippines (PMAP) to reach a wider pool of talent.

Since its inception in 2024, the J.O.B.S. program has hosted over 300 job fairs nationwide, serving more than 180,000 job seekers. Of these, over 24,000 were hired on the spot, underscoring the program’s effectiveness in facilitating employment and advancing workforce development.

About SM Investments Corporation

SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

For more information, please visit www.sminvestments.com

Grade A Offices: Tenant Advantages Deepen with Greater Flexibility and Choice Greater China Top Office Supply/Demand Trends

HONG KONG SAR – Media OutReach Newswire – 28 August 2025 – Cushman & Wakefield, a leading global real estate services firm, today released its annual Greater China Top Office Supply/Demand Trends report. According to the report, at the end of Q2 2025, the total Grade A office inventory in the core markets of the 20 major cities in Greater China we track totaled 72.1 million sq m. In the meantime, total premium core city office net absorption across the Greater China market for the H1 2025 period reached 0.76 million, a 5.5% y-o-y increase.

Of the six major cities in the region — comprising the tier-1 city group, Hong Kong, and Taipei — Taipei registered the lowest vacancy rate at 7.9%. As for the tier-2 city group, Qingdao recorded the lowest vacancy rate at 24.7%.

The supply/demand rundown for 20 city core area-level markets in Greater China (Q2 2025)
Source: Cushman & Wakefield Research

Shaun Brodie, Head of Research Content, Greater China, Cushman & Wakefield said, “For tenants, the Grade A office market continues to present opportunities, with vacancy rates and rental levels remaining favorable. With landlords adopting a more flexible approach amid the gradual economic recovery, occupiers can continue to benefit from attractive leasing terms and greater choice in the market.”

Jonathan Wei, President, Project and Occupier Services, China, Cushman & Wakefield, commented: “In the next two or three years, there will be a peak in supply in most of the major cities in the Chinese mainland region. Landlords will need to continue to strengthen their market competitiveness to attract tenants.”

Beijing

New Grade A office supply in Beijing in 2024 reached 273,000 sq m, a 55% decrease compared with the full-year 2023, making it the lowest new supply level of the past decade. No new supply entered the Beijing office market in H1 2025, with total Grade A office stock unchanged at 13.68 million sq m for the first half of 2025.

From 2024 to H1 2025, softening rental levels, large leasing deals, and pre-leasing at new entrants boosted citywide net absorption to surpass the previous period performance, reaching 511,967 sq m, up 51.9% y-o-y. The overall office market vacancy rate trended down 1.8 percentage points from the Q4 2023 level to 16.87%.

No new supply is scheduled to enter the Grade A office market in H2 2025. We expect the market to continue to digest existing stock, in turn further pulling down the overall vacancy rate. Landlords’ room for rent concessions is approaching a limit, and the overall market is now in a bottoming-out phase. We expect overall office rents to stabilize by the end of 2025.

Shanghai

From 2024 to H1 2025, approximately 1.34 million sq m of high-quality office space launched in the Shanghai Grade A office market, with 56% of the area located in emerging districts.

Over the past six quarters, the Shanghai Grade A office market recorded average quarterly net absorption of 132,266 sq m. The professional services, retail & trade, and TMT sectors were active in leasing, accounting for the top three sectors for leased area. As at Q2 2025, the vacancy rate rose to 23.6%. In turn, the average monthly rental level fell 8.2% y-o-y to RMB 212.6 per sq m.

From H2 2025 to 2027, Shanghai will see 2.58 million sq m of new supply enter the market, representing 14.6% of current stock, with emerging business districts becoming the main supply hubs. Additionally, favorable policy measures for both demand and supply are being implemented, accelerating innovation in strategic emerging industry fields such as integrated circuits, biomedicine, and AI, optimizing spatial layouts, and injecting new momentum into the office market.

Shenzhen

Shenzhen’s Grade A office market welcomed 516,000 sq m of new supply from Q1 2024 through to Q2 2025, bringing citywide total stock to 8.60 million sq m. The new supply was distributed in Qianhai, Luohu and Futian.

Citywide net absorption for 2024 contracted 57.9% y-o-y to record 165,000 sq m. Citywide net absorption in H1 2025 expanded y-o-y but remained at the similarly low level for the same period in the past decade. The citywide overall vacancy rate has risen 1.7 percentage points since the end of 2023 to reach 27.8%. The Q2 2025 monthly average rental level dropped 14.1% from Q4 2023 to record RMB160.1 sq m.

Approximately 1.2 million sq m of new supply is scheduled to enter the market in the H2 2025 period. The overall vacancy rate is expected to continue to rise, and rents will face downwards pressure in the short- term. With the ongoing development of AI, we anticipate that the Grade A office market will see incremental demand growth driven by the further emergence of high-quality technology sector firms.

Guangzhou

From the beginning of 2024 to the second quarter of 2025, new office projects totaling 441,713 sq m of space were completed. Citywide total stock then expanded to 6.94 million sq m. Delayed deliveries have reduced supply in 2024 compared to 2023, although accelerated construction in the Financial City district led to a resurgence of supply in the first half of 2025.

Compared to the end of 2023, the market has experienced a rise in lease inquiries. Occupiers continue to view renovation and fit-out expense incentives as key factors when looking to sign a new lease. Domestic enterprises remain the key drivers of transaction activity, with TMT, professional services, and finance firms, the top three sectors for leased area citywide.

Ahead, 2.39 million sq m of new space is expected to enter the market by 2027. Headquarter-type properties will account for more than half of the new supply. Market demand continues to evolve, with vacancy rates and rental levels remaining under pressure amid fierce competition.

Chengdu

From 2024 through to H1 2025, Chengdu saw 287,554 sq m of new Grade A office space enter the market, expanding citywide total stock to 3.38 million sq m.

Grade A office net absorption reached 67,468 sq m for the 2024 to H1 2025 period. The TMT, professional services, and finance sectors accounted for 26.4%, 19.6% and 16.8% of total leasing transaction volume by area, respectively. From the end of 2023, new supply combined with weakening leasing demand have now pushed up the citywide vacancy rate by 4.4 percentage points to reach 28.8%, while the average monthly rental level has dropped to RMB89.5 per sq m.

Nearly 1.0 million sq m of new supply is expected to enter the market from H2 2025 to 2027. The supply influx, combined with tenants’ cost reductions, is expected to elevate vacancy and exert downwards pressure on rents. Tenants are likely to seize further opportunities for upgrades, renewals, and consolidation.

Hong Kong

More than 194,000 sq m of new supply entered the market from 2024 through to H1 2025, with 44,900 sq m in H1 2025, distributed approximately equally in core and non-core areas. We forecast upcoming new supply to reach 264,300 sq m in H2 2025.

The average quarterly new leased area reached 84,900 sq m in the 2024 to H1 2025 period, 19% higher than the quarterly average for 2020–2023, with the finance sector primarily driving demand. Net absorption recorded 122,000 sq m for the 2024 to H1 2025 period, excluding pre-lease activities at new project developments.

The recovery of the Hong Kong IPO market should help support market sentiment and downstream office demand, particularly from finance and professional services firms. However, the high availability and ample new supply pipeline, with occupiers still cost-conscious, dictates our forecast for overall office rents to drop by 7% to 9% through the full-year 2025.

Taipei

From 2024 through to the first half of 2025, the Taipei market welcomed seven new Grade A office properties contributing approximately 195,700 sq m of new supply — double the figure seen in 2023. This brought the city’s total Grade A stock to 2.80 million sq m.

Net absorption for 2024 to H1 2025 reached approximately 161,400 sq m, primarily driven by the consolidation and relocation of self-use headquarters in the financial and insurance sectors. Multinational corporations accounted for around 80.9% of total leasing demand, up from 51.6% in 2023, indicating a higher proportion of foreign occupier activity during the period.

Over the next three years, Taipei will add around 968,000 sq m of new Grade A supply. With major completions slated from mid-2025, competition will intensify. In response, some landlords are upgrading facilities and offering flexible lease terms, while developers may adjust timelines based on absorption trends.

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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 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit or follow us on LinkedIn ().