In this time of rapid change and global disruption, what’s been a constant is the need to share information across borders and to learn from what’s happening in other markets. The number one question we are being asked is “What’s happening in China?“. Although absolutely a fluid situation, here are some insights from Knight Frank local team members on the ground and from Knight Frank’s researchers.
In an internal call with the Knight Frank Asia Pacific team, Alan Liu, Managing Director of Knight Frank China shared that a gradual return to normal is happening with many facilities reopening and intercity travel resuming. The China team are focused on delivering value-driven client service.
Watch Alan Liu’s five minute perspective here:
Last week, Knight Frank researcher Justin Eng supported Alan’s perspective when he analysed Nitrogen dioxide (NO2) emission levels in China. Justin shared that industrial activity was rapidly recovering in the latter half of March, and in the second quarter levels seems to have normalized to pre-Covid levels. Read his full analysis here.
Meanwhile, Ying Lee, Knight Frank Shanghai Managing Director and China Head of Industrial had a conversation with APAC OSCA head, Tim Armstrong about the improving business confidence in China and her first-hand account of how occupiers, landlords and her team are responding in these challenging times.
Listen to their thirty minute audio conversation here:
Based in Beijing, Knight Frank Asia Pacific Head of Research, Nicholas Holt, shared that there is a desire to get back to work and a corresponding pick up in activity which may indicate the recovery could be brisk. Nicholas cautioned however, with the rest of the world slowing rapidly, the interconnectedness of China into the global economy means that China will continue to feel the impact of the pandemic during the coming months. You can read Nick’s update here.
Finally, the UK research team shared a useful snapshot China in Five Charts which showcased virus case volumes, consumer confidence, property sales, coal consumption and residential prices.
This is indeed a very challenging situation which impacts all of us in how we work and how we live. Agility and connectivity are key to how we deliver business outcomes within this rapidly changing economic climate. The Knight Frank teams are available to assist if you’d like any insights or guidance on the Asia Pacific region.