In Q2, leasing demand remains solid as investment market consolidates in China. Total net absorption of office market reached a historical high at 2.04 million sq. m. during the quarter, marking the first time in six months that demand outpaced supply. Demand continued to be led by TMT firms and were especially active in Beijing, Shenzhen, Chengdu and Wuhan. In retail sector, several landmark projects came to market during the quarter. International fashion brands, domestic middle range apparel brands and cafés and restaurants continued to aggressively expand. Average ground floor shopping mall rents increased slightly by 0.3% q-o-q.