China’s Financial Center Falters: Even Blackrock’s Discounted Offices Unsold, 60% Remain Empty

A shocking 60% vacancy rate in Shanghai's Qiantan office buildings? This is not a joke. As a professional in Shanghai office space rentals, let me share a method to gauge the market. In Qiantan, each office building's lobby has plaques with the names of companies located there. By visiting each building, you can observe and gauge the overall occupancy and vacancy rates yourself.
#chinaobserver
All rights reserved.

[@Mechabang]

When Blackrock is bailing, you know that you're screwed

[@thuandao4243]

Only if your investment with br. …..Bigger globalmonopoly they are, harder they fall. 🎉

[@HKim0072]

@@thuandao4243 Totally the opposite of what BLK does. Their AUM is so high, they have to have their hands in every pie. They are so diversified, it stunts overall gains sometimes. It's why the "good" hedge funds stop taking new funds.

[@luislaplume8261]

As the late great 3 Stooges would say......And how! 😊

[@larzkruber822]

They only build enough houses for every person on earth I think we can do more!

[@MK_ULTRA420]

@@thuandao4243 Blackrock is doing fine compared to the CCP.

[@wheezysqueezebox7651]

The effects of "Wolf Warrior Diplomacy!" and the Chinese saying, "If you can cheat, cheat!"

[@streetfreakpatrol240]

Cheating always have a price to pay, the chinese are now seeing the losses from their cheating.

[@laurentitolledo1838]

not surprised anymore.. wake me up when the average vacancy rate reaches 90%...

[@nicholasgibbons9917]

Don't worry, we will. At this rate, we should just wait until it reaches 100%.

[@williamhagen2792]

Regarding those who lost money in China: Ha ha ha ha ha

[@johninnh4880]

90% business failure rate?!! OMG! Is that # even real? Why build more office space if you can't rent or sell what you already have? Crazy crazy.

[@luislaplume8261]

Communists have a well deserved reputation for being economic and financial illiterates. Look at the late Fidel Castro of Communist Cuba and how Cuba is today.

[@MK_ULTRA420]

It's because the CCP thought they could use printed currency backed by labor to replace foreign capital. It didn't work because the RMB is not as trustworthy as the USD, and that's coming from _my_ username. All China had to do was copy Japan and they'd be #1 in the world by now.

[@tangooscar633]

New York has a 30% office space vacancy and climbing, Calgary is at 50%, but developments continue in both cities. I think 90% is definitely too high to be real, but I'm sure it's somewhere around 40% to 50%.

[@napalmenthusiast4423]

​@@tangooscar633 By the economy of china alone, 90% shouldn't really surprise anyone

[@JoeBlow-fp5ng]

Thank Winnie the Pooh.

[@petersvan7880]

Still, this is good news for the previously overloaded sewage systems.

[@goodnightmyprince6734]

Tofu-Dreg employment

[@ridcom]

🤣🤣🤣

[@ChineseRatfaceCHANG]

They just aren't as smart as they thought they are, simple as.

[@midimusicforever]

Wolf puppies crying.

[@jamesbain1010]

This is why I laugh every time i hear how BRICS is going to take over as the worlds currency. Their currency is teetering like a drunk

[@squiremc]

A currency pushed by a group of nations of which only one is solvent. SMH.

[@jbc8673]

most of the countries that want to join BRICS are currently experiencing double digit inflation and/or in the process of going bankrupt. google it for confirmation.

[@kitsinu1]

"All building, no business." The China version of "All hat, no cattle."

[@mightT1]

they've moved to Xi pooh new ghost city... at least that is what official are telling Xi... see they left Beijing, sir.

[@dougsheldon5560]

And the carrying costs go on and on and on.

[@souravray9439]

They can cultivate bats in the vacant offices 😂😂😂

[@kryts27]

Office vacancy rates in London, New York and Sydney are 8.5%, 19% and 12% respectively. That of Shanghai is at least double that of New York.

[@albertko1]

Add that commercial real estate (both vacant office and retail) in both NY and SF are facing their own issues for many reasons which there is some overlap but overall not the same.

[@johnhaller5851]

This is not significantly different from the US office occupancy. While the news talks about return to office, COVID showed that much office work could be done remotely. As leases expire, not all space will be re-leased. This is a big problem for the institutions who hold the loan on the building, no matter the country.

[@bugoy3430]

Good job Winnine the Pooh.😂

[@danmoreman954]

There is no way to escape a collapse of the Chinese banking sector. I’m sure the CCp will try to intervene but the weight of this is more than the CCP can carry long term

[@robhappe2705]

Who will pay for maintenance of all these empty buildings. These buildings will deteriorate fast

[@Panther93225]

lol what happened to “Made in China 2025 project” ? 😂

[@derptrolling4740]

Warships, tanks, jets, missiles, Nukes.

[@asdisskagen6487]

With as much vacant office space there is, I don't understand why anyone is building more.

[@ChairmanMo]

You may as well give these properties away for free.

[@user-cg9qu8mz8u]

Massage palors

[@yuricopperhooves]

Who woulda thought that where the gubermant can bankrupt you for the lulz, people ain't wana invest. Itz truly a mystery.

[@tonythai5991]

Little pinks cry now.

[@mattanderson6672]

Rise up People of China

[@divizionx]

Bye shanghai

[@souravray9439]

Belt and road bankruptcy 😂😂😂

[@anabelyoung4304]

Bully and greedy run by a dictator

[@jamestreanor182]

Pudong Qiantan, LOL. so much inventory from these former farmlands...

[@jmanakajosh9354]

I hope this economic stuff isn't contagious.

[@HKim0072]

Actually, it's good for non-Chinese assets. It's part of the reason why the US market is up (and Japan). No one wants to invest into China stuff. The 10yr UST is at 4.48% and the SPX is 1000 points higher when UST was at these levels.

[@well-blazeredman6187]

Don't worry. America will only catch a cold if a Marxist gets into the Oval Office. Oh ...........

[@t.dickinson7942]

Xi CCP CORRUPTIIN, TGEFT OF TECHNOLOGY, ARMING WESTERN WORLD ENIMIES, DECIET, AND THREATNING OTHER COYNTRIES, CLAIMING SEAS OCEANS ARE CHINAS IS WHAT CAUSED THIS WITH CHINAS COVID

[@JJ-rp2df]

Cre boom bust cycles of high risk, high reward and overcapacity

[@takefive1302]

Hate your customer, hate yourself. Eat hate.

[@henrycarlson7514]

Interesting , Thank You .

[@coraltown1]

Looks like many small investors bought office space the same way they bought apartments.

[@HKim0072]

Too lazy to research the securitization market in CCP China. I know the derivatives market (CDS) is way underdeveloped. It's hard to know who "owns" the risk in the commercial market.

[@popcorn6931]

You definitely need more office buildings in China

[@musclesmouse]

let it lie

[@squiremc]

CRE causing bank debt along with the resultant credit squeeze will be the black swan event that topples not only the Chinese economy but consequently markets in New York, London, Sydney, etc. Stash your cash, wait until the crash is over according to leading economic indicators and then buy.

[@davidariamirroarkyoung]

When you think of the real estate market in China with the rates of development in the home market or commercial properties it isn't possible to create the amount of units and expect the market to not collapse. They have too much office space and too many apartments, that means the markets will collapse, it doesn't take a genius to know if you have more product than demand prices collapse...

[@popcorn6931]

Don’t look down on the Chinese. They are very sensitive and feelings get easily hurt

[@AG-en5y]

❤❤❤

[@onlineshoppingjakarta7338]

Oversupply

[@ChairmanMo]

Open up the country to the Digital Nomads; offer them uncensored internet, free office space and easy visa free access.

[@jamesneveaux4892]

Wolf/Warrior has it's drawbacks.

[@akademik09usa]

The Great Reset.

[@user-kx8yn9kw1r]

А куда делся млрд китайцев?! В этих сотнях тысячах офисах и прячутся сотни миллионов настоящих бездельников китайцев☝️

[@eragonfreedman9228]

why were you western companies there in the first place

[@nicholasgibbons9917]

We were manipulated by the CCP. Never letting that happen again!!

[@xiaoguan1143]

how do you say HA HA HA in mandarin?

[@jamesneveaux4892]

Can't steal success.

[@kensmith8152]

Pride goeth before the fall and what a fall it is!

[@LouisHansell]

I see your videos of empty office building, street-level stores shuttered and large, empty shopping malls. But in between there is video of heavy traffic, cars and motorbikes crowding the roads. Where are these people going? Why is there any traffic at all, if there are no shoppers, no shopkeepers and no office workers?

[@Dreamer10888]

Hi any good news

[@dennismacwilliams196]

Well the USA is the close in the same problems. Comeral Buldings are a world isue...

[@christianjack1250]

改成会所就行了

[@Gaming_Antics]

Why not let the poor homeless Chinese live in vacant buildings for free?

[@colinkay6599]

Fake fakeness. Like really who cares. Greed gets karma.

[@vandalsavage1]

Lol pwnt

[@paisleyjane14]

I suggest renting the units out as living spaces. Same problem in many downtown cores since Covid. Company’s and government trying to force people back into offices , but it only benefits a handful of greedy landlords. I say they should convert the space to residential to solve some of the housing crisis. And guess what ; if you can LIVE downtown you may want to go to a downtown workplace right ? It’s all so simple

[@NIGHT2603]

China looks beautiful though

[@marcusott2973]

That's one of two days in 365, that there was no smog in Shanghai, or it's stock footage from during the lockdown. I worked in Shanghai for 8 months saw the sun twice.

[@ActiveAussie2024]

It's a dump. Wuhan is even worse than Shanghai. I ( stupidly) lived in Wuhan and Nanning for 8 years.

[@malcomryder9793]

MANY OF THE DOWNTOWN OFFICE SPACE IN MY TOWN ARE BEING CONVERTED TO APARTMENTS, SO THIS TREND OF EMPTY OFFICES IS NOT UNIQUE TO CHINA

[@t.dickinson7942]

China has 60 million empty and unfinished apartments

[@streetfreakpatrol240]

Those office spaces need to be converted into cheap residence units. It's no use people having no houses to buy because they haven't been finished and new offices sitting vacant.

[@user-me2dy6ct4z]

Many sectors are doing well in China, such as ev, ship building, high speed rail etc.

[@adriansaw8329]

EV? They are now 4x bigger in export and manufacturing volume but car manufacturing and EV maintains the same level of employment as when it was 25% current production. So... no new jobs created (in significant numbers), no profits due to overcapacity (BYD 's profit margin is so low it's not healthy). Why? because state directed economy has ensured that investments were made into these sectors without healthy returns...

[@tonyanderson5123]

For the last 6 months at least, your channel has NO new news to report. You just repeat the same old stuff over and over again - China is broke, tofu buildings, mortgage defaults, and people protest with no results. How about finding some other topics to report?

[@KEN-np5eb]

How about you finding yourself a new channel?6 months to realize the problem?😂

[@1439315]

Chinese invited to live & work in NORMAN, Oklahoma; we have work !

[@jojox5136]

Plenty of them crossing your southern border

[@t.dickinson7942]

No Chinese spies!

[@t.dickinson7942]

Then let immigrants who apply in!

[@ric6074]

Daily self fantasy day dreaming deepfakes AI propaganda channel. LoL 😂

[@9-23-15]

Brainwashed Bot

[@shundi4264]

US propaganda reflects its racial and political anxieties and its profound insecurities about its own failures and decline.

[@tinger20]

ROFL! How's wolf diplomacy doin for u guys?

[@TheAcadianGuy]

Hi wumao,. How are you?

[@JoeBlow-fp5ng]

Please point out the lies, then. What specifically did this video get wrong?

[@luislaplume8261]

​@@tinger20Winnie the Pooh aka Xi Jing Ping says.....Very well. 😊

[@powershift2024]

Look at his profile, the OP is projecting his own gov'ts extremism, intolerance, and highly barbaric behavior onto others. They're getting desperate. 🇹🇼👀🌎👍👍

[@adonijah2190]

can you declare bankruptcy in china?