CBRE世邦魏理仕：2026年中国物流大周期下的投资机遇报告（英文版）

China’s warehouse logistics supply peaked during the 14th Five-Year Plan from 2021 to 2025. During this period, new logistics wa rehouse supply in major cities tracked by CBRE reached 50 million sq. m., a figure equivalent to total pre-existing nationwide stock. More than 75% of new supply was concentrated in tier I cities and surrounding areas. The si gnificant influx of new supply resulted in a substantial decline in occupancy and rents while also dampening development and investment appeti