Macro-economic growth has laid the foundation for the rapid growth of logistics demand.

With the growth of China's economy, China's per-capita GDP in 2018 is 64644 yuan, especially in the north of the first-line city, per capita GDP has long been the threshold of the developed countries or regional standards developed by the World Bank. In 2018, the per capita disposable income of urban residents is 39251 yuan, up 7.8 percent on a year-on-year basis. The per-capita disposable income of rural residents reached 14,617 yuan, with an increase of 8.8% on a year-on-year basis. At the same time per capita GDP and resident income are rising, the demand for consumption of the residents is also becoming stronger, especially in the high-end manufacturing, food, medicine, and quick consumer goods. In addition, this also puts forward higher requirements for logistics warehousing.

E - commerce and third - party logistics become the driving force of logistics industry.

From the customer point of view, the logistics real estate market customers can be divided into three categories, including the most stable traditional retailing such as Wal-Mart, Carrefour, Adidas, Nike, traditional manufacturing such as Bosch, Schneider, GM. They are mainly logistics real estate enterprises in order to invigorate fixed assets, and there is no greater potential for growth.

In recent years, the size of the logistics real estate market has steadily increased, with the main benefit of the other two driving forces - e-commerce (Alibaba, JD. JD., Vermick), and third-party logistics (Debang, Shunfeng, DHL).

Due to the explosive growth of domestic online shopping volume in recent years, the original logistics facilities are difficult to meet the needs of e-commerce. E-commerce enterprises represented by JD.com and Ali have adopted the mode of partial self-built warehousing to alleviate the shortage of warehousing resources, but they are far from meeting their needs. At present, a considerable part of the warehousing facilities still come from external leases.

Moreover, the development of logistics real estate has a steep learning curve, according to the situation of self-development of e-commerce, the average of 4 years can master the successful development experience. Therefore, compared with the professional logistics real estate developers, there are still certain technical barriers for the direct entry of e-commerce.