Online trade development puts China’s trade houses under a threat of crisis

Almaty. July 11. Silkroadnews – Online trade development puts China’s trade houses under a threat of crisis, South China Morning Post reported.
“Owners of trade houses in China run into a hard decade, as many of their tenants started losing market share due to online trading development, which does not provide an opportunity for a tangible raise in prices for rental space”, newspaper reads.
With this it is also noted that traders increasingly prefer to display their goods on online trading platforms of such giants as Baidu, Alibaba and Tencent, while some trading houses faces a dramatic decrease in number of buyers.
This year China’s online sales are expected to reach $812 billion.
The office real estate market, vice-chairman of Henderson Land Development Peter Lee Ka-kit suggests, is also under threat, as modern technologies allows you to hold meetings and presentations virtually, even using 3D format.