  
China Knowledge Press
September 2004
ISBN 978-981-4163-12-5
Paperback
101 pages
US$395
US$25 more for registered airmail, US$35 more for courier delivery
7-12 business days for airmail, 2-4 business days for courier delivery
Table of Contents
The recent construction boom in the major cities of China has resulted in a market surplus of prime office space. It is estimated that the new floor space supply of Grade
A office buildings in Beijing will be around 1.3 million mē in 2004, about 200,000 mē in Shanghai, and 130,000 mē in Guangzhou.
As a result, commercial rental rates continue to drop in general while many Chinese and foreign enterprises are now taking advantage of this by relocating to superior office space.
With China's GDP growth remaining at 9% or above, as well as the inward flow of foreign investment, the market demand for new offices from both Chinese and foreign companies is likely to continue in the coming years.
Frequently, companies which take up new office space also upgrade their office furnishings. This phenomenon has created a significant expansion of the middle and
upper-end office furniture markets.
Related to this trend, most newly constructed prime office space in China now features airy, open-concept plans typical of American office layouts. Although there
are many local manufacturers of modular furniture in China, their quality and design features are clearly inferior to imported and foreign joint venture-manufactured products.
At present, there are a group of well-known office furniture manufacturers in China, including Lamex, China Resources Logic, UB, Aurora, Changjiang, Huali, Huaya,
Chengfeng, Jianwei, Keyu, Ocean, Braw, Nanyang, Rongfeng, Guojing, Zhongtai and Chunguang. In addition, there is a group of enterprises which produce both office
and home furniture, for example, Landbord, Tiantan and Gotop. A number of manufacturing bases for office furniture have also been developed. These include Shunde and Dongguan in Guangdong Province, Hangzhou and Anji in
Zhejiang Province, and Shanghai. China's relatively low labor costs and large consumer market have attracted
international furniture companies to transfer their operations to China.
In the next three to five years, it is expected that more international furniture players will relocate their production facilities to countries with lower costs of operation.
In January 2005, furniture import tariffs in China will fall to zero. Following this, it is expected that more international furniture players will enter the Chinese market. Also, Chinese furniture manufacturers will lose the preferential treatment they were accustomed to prior to China's WTO membership. A level playing field will thus be created in China's furniture market.
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