The Mainland'S Retail Market Is Weak But Will Not Be Adjusted.

At the time of slowing economic growth, the two words "cold winter" and "weak" become the scene.

Question leads.

Chen Qizong, who once threw out the theory of "embracing bear market", is quite calm in the face of "cold winter" whether to consider buying land.

He said that the strategy of buying land in the "cold winter" has never changed, but that the opportunity to buy high-quality property can not be met and needs time to wait, while Hang Lung will not deliberately adjust the pace of development in the mainland. "At the moment, we will do well in the project at hand."

However, Chen Qizong also frankly, the mainland's retail market is rather weak at present, and the growth rate has been relatively large in the past few years.

The more obvious phenomenon is that many shopping malls in the mainland have been forced to pform under market pressure.

In terms of rent, Tongluowan has great potential for growth. The popularity of fashion walk and the renovation project of the Yalan centre in Mong Kok are actually very prosperous, helping to increase the rent.

In November this year, the newly opened H&M flagship store is expected to be better. It is believed that Tongluowan will perform better next year and drive the growth of rental income.

Inland

It is rather weak, not that there is no growth, but the growth rate is much slower than in the past few years.

So at present, the consumer market in the mainland is not too optimistic. And recently, we see a lot of faster than expected pformation, which is beyond our expectation.

We opened the Tianjin project in September last year, and now there are 5 shopping malls around it.

"From the forced pformation, one thing can be seen is that the market is definitely not optimistic," Chen Qizong said.

"Some investors will ask.

Chen Qizong's answer is very positive. "I believe our shopping malls, location, size and design are all top-notch, and the high-end field is not that many competitors, so Hang Lung will insist on the high-end positioning, there is no reason to shift to mid-range."

Chen Qizong did not comment too much on the issue of the recent sale of mainland assets by Hong Kong funded enterprises, and indicated that the strategy for the mainland would not be changed by itself.

"Hang Lung's property in the mainland is irreplaceable. It is likely that it will not be bought if it is sold, and now there is no financial pressure on Hang Lung, but there is plenty of capital, so we do not need to sell assets."

According to Chen Qizong, the current task of Hang Lung is to finish the project on hand first. The Dalian Hang Lung Plaza is expected to open in the fourth quarter of this year, while the two projects in Shanghai will cost HK $1 billion 300 million to refurbish it in order to maintain long-term competitiveness.