本报告研究涉及企业/品牌/案例：香港九龙仓集团，香港太古地产，银泰置地，大悦城，印力集团，万科，TRIWATER,融创，龙湖，凯德集团，DIAMOND TWO PTE 有限公司，红星地产，华润置地，恒隆地产，新鸿基，嘉里建设，中国金茂，富力地产，保利集团，招商蛇口，绿地集团，中海地产，新城控股，中国国贸，宝龙地产，世茂集团，金融街，瑞安房地产，SOHO中国，茂业国际，华侨城，上实城开，丰树集团，新世界中国，合生创展，长实地产，金隅股份，雅居乐，恒基兆业，中国奥园，中国恒大，洛克菲勒家族，巴克莱投资银行、通用电气、NBC新闻网总部、时代华纳，美联社，任天堂，星巴克，希尔顿，罗斯福酒店，美国捷得，KPF，粤海喜来登酒店

商业综合体兼具推动购物中西等线下实体经济消费、文娱产业和商业地产发展等多重作用。iiMedia Research（艾媒咨询）数据显示，2018年开业购物中心业态占比以文体娱乐类最高，达38%，其次为餐饮30%。值得关注的是，与宠物经济、儿童经济等关联度高的体验业态持续增长,如室内动物园、室内运动馆、小剧场、黑科技体验馆、围棋馆等不断出现。另一方面，2019年住宅房产的紧缩政策，驱动地产企业向商业地产转向。iiMedia Research (艾媒咨询)数据显示，中国主要一线城市以北京上海为首，拥有超过100家购物中心，且核心商圈租金超过2000元，伴随着城市收缩等供求关系进一步失衡，地产企业及时调整应对策略，部分企业更关注三四线城市发展。

The commercial complex has multiple functions of promoting the real economic consumption, cultural and entertainment industry and commercial real estate development under the shopping line between China and the West. According to iiMedia Research (AI Media Consulting), the largest proportion of shopping centers opened in 2018 is sports and entertainment, with 38%, followed by catering, with 30%. It is worth paying attention to that experience formats with high correlation with pet economy and children's economy continue to grow, such as indoor zoo, indoor sports hall, small theater, black technology experience hall, go hall, etc. On the other hand, the tightening policy for residential real estate in 2019 will drive real estate enterprises to turn to commercial real estate. IiMedia Research (AI Media Consulting) data show that China's major first-tier cities, led by Beijing and Shanghai, have more than 100 shopping centers, and the rent in the core business circle exceeds 2,000 yuan. With the supply-demand relationship further unbalanced such as urban contraction, real estate enterprises have adjusted their coping strategies in a timely manner, and some enterprises pay more attention to the development of third-and fourth-tier cities.

本报告研究涉及企业/品牌包括：恒大集团、越秀地产、东软集团、万科集团、万达广场、新尚集团、北京八达岭精奥莱商业有限公司、广州市番润市场经营管理有限公司、星巴克、汉堡王、Gucci、KFC、一点点、阿迪达斯、翠华集团、阿玛尼、必胜客、优衣库、宝岛眼镜、沃尔玛

截至2018年底，中国已形成广州大学城、杨浦大学城、长安大学城周边等初具规模的大学城商圈模式，其中，上海杨浦大学城商圈在交通便利度、业态丰富度、客流量方面都较为突出。根据艾媒舆情商情数据检测系统显示，江苏地区对大学城商圈关注度最高，占比21.7%。此外，iiMedia Research（艾媒咨询）数据显示，在大学生不同领域的日常消费支出中，超两成的大学生以线下培训学习消费为日常主要的消费项目之一，教育培训机构在大学城商圈发展仍有较大发展潜力。整体而言，目前中国大学城的整体规划及开发力度仍比较欠缺，没有充分利用到大学城的辐射影响。未来，可加强对大学城资源的挖掘，带动大学城周边如住房、科研基地等发展吸引其他产业如商业服务、配套设施、旅游休闲和房地产等方面的进入，打造更完善的大学城商业服务圈。

By the end of 2018, China has formed the initial scale business circle model of Guangzhou University City, Yangpu University City and the vicinity of Chang'an University City. Among them, the business circle of Shanghai Yangpu University City is more prominent in terms of transportation convenience, business form richness and passenger flow. According to iiMedia Research, Jiangsu area pays the highest attention to the University City business circle, accounting for 21.7%. Besides, according to iiMedia Research,in the daily consumption expenditure of college students in different fields, more than 20% of college students take off-line training, learning and consumption as one of the main daily consumption items. Educational and training institutions still have great development potential in the University City business circle. Overall, the overall planning and development of university towns in China are still relatively inadequate, and the radiation impact of university towns is not fully utilized. In the future, we can strengthen the excavation of University City resources, promote the development of surrounding areas such as housing, scientific research bases, attract other industries such as commercial services, supporting facilities, tourism and leisure, real estate and other aspects, and create a more perfect university city business service circle.

　　2020年国家及地方密集出台政策强调“房子是用来住的，不是用来炒的”的定位，在这种大趋势下，短期内限购、限贷、限售等调控政策也很难出现明显放松，预计2021年房地产政策环境延续从紧。但是从房地产土地购置面积、施工面积等数据来看，2020年房地产企业拿地规模稳定增长、新开工面积的见顶回落，预计2021年房地产投资仍有较强增长动力。(《2020年10-11中国房地产行业月度运行及年终盘点数据监测报告》完整高清PDF版共51页，可点击文章底部报告下载按钮进行报告下载)

　　In 2020, the state and local governments will intensively introduce policies to emphasize the positioning of "houses are used for living, not for speculation". Under this general trend, it is difficult to relax the control policies such as purchase restriction, loan restriction and sales restriction in the short term. It is expected that the real estate policy environment will continue to be tight in 2021. However, from the data of real estate land purchase area and construction area, the scale of land acquisition of real estate enterprises will grow steadily in 2020, and the newly started area will peak and fall. It is estimated that there will still be a strong growth momentum for real estate investment in 2021. (“iiMedia Report | Monthly operation and year-end inventory data monitoring report of China's real estate industry （Oct & Nov,2020）" full version has 51 pages, please click the Browse HD Report button on the right side of the article to browse the report )

随着疫情防控的逐渐好转，全国房地产开发投资自从6月份首次回正以来，随后均呈现全面复苏和平稳增长的趋势。数据显示，截止2020年9月，房地产开发企业到位资金136376亿元，同比增长4.4%。但是由于冬季即将到来，北方城市会逐步迎来停工期，因此，房屋新开工面积下降3.40%。

With the gradual improvement in the prevention and control of the epidemic, the national real estate development investment has shown a trend of full recovery and steady growth since it first recovered in June. According to data, as of September 2020, the funds in place for real estate development enterprises were 13.3763 trillion yuan, a year-on-year increase of 4.4%. However, due to the approaching winter, northern cities will gradually usher in a downtime. Therefore, the newly started area of houses has dropped by 3.40%.

2020年6-7月楼市调控继续坚持“房住不炒”的定位，多地先后出台楼市调控政策，严厉打击房地产市场违法违规行为，规范房地产市场秩序。2020年7月上海、北京和深圳三大城市新房的市区房价位于前三名，而宁波、北京、福州的均价涨幅较大。

From June to July 2020, the property market regulation will continue to adhere to the positioning of “no speculation in housing and housing”. Many places have successively introduced regulation and control policies on the property market to severely crack down on violations of laws and regulations in the real estate market and regulate the order of the real estate market. In July 2020, the urban housing prices of new houses in the three major cities of Shanghai, Beijing and Shenzhen ranked among the top three, while the average prices of Ningbo, Beijing and Fuzhou increased significantly.

综合2020年4-5月，中国70个大中城市商品住宅销售价格变动统计数据发现，这一期间各线城市新建商品住宅销售价格环比涨幅均略有扩大，但价格相较去年同期仍有所回落。艾媒咨询分析师认为，在国家“只住不炒”的住房政策影响下，各城市的房价均受到控制，尽管受到新冠疫情影响住房需求量略有增长，但总体较为稳定。

Comprehensive April-May 2020, China's 70 large and medium-sized cities commercial housing sales price changes statistics found that during this period, the sales price of newly built commercial housing in various cities increased slightly, but the price is still higher than the same period last year Fall back.iiMedia Research believe that under the influence of the country's housing policy of "only live and not speculate", the housing prices of all cities are controlled. Although the housing demand has slightly increased due to the impact of the new crown epidemic, it is generally stable.

本报告研究涉及企业/品牌/案例：中国恒大，万科地产，碧桂园，保利发展，中海地产，融创中国，龙湖集团，新城控股，绿地控股，蛋壳公寓，上置集团等。

从2020年2-3月中国房地产土地开发与销售情况来看，2-3月份，房地产业土地购置面积1969.0万平方米，同比增长80.3%；房地产业土地成交价款977.0亿元，同比增长121.8% 。土地成交面积及成交价款均有大幅的上升，主要因为1-2月受疫情影响严重，3月后，中国的疫情控制效果显现，疫情影响有所减弱，房地产行业开始有复工迹象。

　　From the perspective of the development and sales of real estate land in China from February to March 2020, from February to March, the acquisition area of real estate land was 19.69 million square meters, an increase of 80.3% year on year; the transaction price of real estate land was 97.7 billion yuan, an increase of 121.8% year on year. The land transaction area and transaction price have increased significantly, mainly due to the serious impact of the epidemic from January to February. After March, the control effect of the epidemic in China has become apparent, the impact of the epidemic has weakened, and the real estate industry began to show signs of resumption of work.

本报告研究涉及企业/品牌/案例：中国恒大；其他提及企业/品牌：中海地产,奥园健康,碧桂园,融创中国,和泓服务,保利发展,鑫苑服务,龙湖集团,蓝光嘉宝服务,中国铁建,银城生活服务,绿城中国,新大正物业,华夏幸福,金地集团,万科地产,保利物业,招商蛇口,龙光集团,时代邻里,新城控股,中国金茂,合景泰富,宝龙商业,华润置地,旭辉集团,滨江集团

从中国2019-2020年1月的CPI涨跌幅数据来看，2020年1月全国居民消费价格指数同比上涨5.4%，环比上涨1.4%。艾媒咨询分析师认为，受春节及疫情的影响，消费品和服务项目价格水平总体拉高幅度较大，1月的CPI环比及同比增长较高。其中，居住类的居民消费价格指数同比上涨0.5个百分点，环比持平。

Judging from China's January-2020 CPI rise and fall data, in January 2020, the national consumer price index rose 5.4% year-on-year and 1.4% month-on-month. iiMedia Research analysts believe that due to the impact of the Spring Festival and the epidemic, the price level of consumer goods and service items has generally risen significantly, and the CPI in January was higher than in the previous month. Among them, the consumer price index for residential products rose by 0.5 percentage points year-on-year, which was flat month-on-month. iiMedia Consulting analysts believe that due to the impact of the epidemic, coupled with the promotion of government policies to stabilize the property market, and the general tightening of the financing environment, the overall evaluation of the real estate market is biased towards the smallest.

本报告研究涉及企业/品牌/案例：碧桂园,万科,中国恒大,融创中国,保利地产,绿地控股,中海地产,新城控股,世茂房地产,华润置地,龙湖集团,中国奥园,滨江集团,富力地产,融创中国,美的置业,荣盛发展,当代置业,世联行,中国雄安集团,Rentomojo,装店易,居然之家,中指控股,公装云,homelane,SiteMinder,安歆集团,新湖房地产,Zeus Living,Zolostays,Virgil,宝家乡墅,斯维登集团,GMO Payment Gateway,五格货栈,MFund魔量基金,房天下,青橙资本,FJ Labs,Sequoia Capital（红杉海外）,Accel Partners,凯雷亚洲基金,绿城中国,Alumni Ventures Group,CEAS Investments,Initialized Capital,中力资本,Trifecta Capital,Kima Ventures,Alven Capital,Zoopla,58产业基金

从2019年各月中国房地产开发投资情况来看，中国房地产开发累计投资增速，以及房地产住宅投资累计增长速度都呈下降趋势。2019年1—12月份，中国房地产开发企业到位资金178609亿元，同比增长7.6%。其中，国内贷款增长5.1%，外资增长62.7%，自筹资金增长4.2%，定金及预收款增长10.7%，个人按揭贷款增长15.1%。艾媒咨询分析师认为，以往国家降准松动资金后，资金最先会流向的领域是房地产行业，而在2019年频繁发布的房市紧缩政策的背景下，保证资金用于促进市场活力而非再大量注入市场，财政宽松政策对房地产业的利好有限。
From the perspective of China's real estate development investment in each month of 2019, the cumulative growth rate of China's real estate development investment and the cumulative growth rate of real estate and residential investment have shown a downward trend. From January to December 2019, the funds in place for Chinese real estate development enterprises reached 17.86 trillion yuan, a year-on-year increase of 7.6%. Among them, domestic loans increased by 5.1%, foreign capital increased by 62.7%, self-raised funds increased by 4.2%, deposits and advance receipts increased by 10.7%, and personal mortgage loans increased by 15.1%. Ai Media Consulting analysts believe that after the country lowered its funds in the past, the first area that funds will flow to is the real estate industry, and in the context of the frequently tightened housing market policy issued in 2019, it is guaranteed that funds will be used to promote market vitality rather than A large number of injections into the market, fiscal easing policies have limited benefits to the real estate industry.

本报告涉及企业/品牌包括：上海临港、亿达中国、招商蛇口、启迪协信、东湖高新、中发展集团、星河产业、金科产业、荣盛发展、张江高科、联东集团、外高桥、华夏幸福、碧桂园、中节能实业、中电光谷、华为、中国移动、中国电信、中国联通

2019年2~3月，政府层面多次在重大会议上肯定中国产业园区的经济贡献，并表示未来将继续大力支持产业园区的发展。3月，工信部出发布两份与园区节能相关的文件，未来产业园区的发展需要更注重绿色环保。针对工业互联网、能源汽车、智能网联车和超高清视频产业，工信部分别发布了相应的指导文件。在新建园区方面，5G产业园成为新焦点，3月期间共有4个5G产业园开园或拟建。产业园区的数量方面，截至2019年3月，中国产业园区总量超过3000家。从分布地区来看，广东省、浙江省和上海的产业园区数量位列前三。截至4月1日，科创板受理的31家企业，注册地信息显示其中28家受理企业在产业园区，占比超过90%。产业园区新引进项目多与智能制造等高新技术相关，如德国弗劳恩霍夫应用研究促进协会将在上海临港成立智能制造项目中心。航天科工光量子技术及应用总体部在东湖高新区正式挂牌。

In 2019, the government has repeatedly affirmed the economic contribution of China's industrial parks at major conferences, and said it will continue to vigorously support the development of industrial parks in the future. In march, the ministry of industry and information technology released two documents related to energy conservation in industrial parks, saying that future industrial parks need to pay more attention to environmental protection. The ministry of industry and information technology has issued corresponding guidance documents for industrial Internet, energy vehicles, intelligent network vehicles and ultra-high definition video industries. In terms of new parks, 5G industrial park has become the new focus. During march, a total of 4 5G industrial parks were opened or planned. In terms of the number of industrial parks, as of March 2019, the total number of industrial parks in China exceeded 3,000. In terms of distribution, Guangdong province, Zhejiang province and Shanghai rank top three in terms of the number of industrial parks. As of April 1, the registration information of 31 enterprises accepted by the board shows that 28 of them are in the industrial park, accounting for more than 90%. The newly introduced projects in the industrial park are mostly related to high and new technologies such as intelligent manufacturing. For example, the German fraunhofer institute for applied research and promotion will set up the intelligent manufacturing project center in Lingang, Shanghai. The general department of aerospace science, industry, light and quantum technology and application was officially listed in the east lake high-tech zone.