Warehousing is not only one of the important links of commodity circulation, but also an important pillar of logistics activities, which plays an important role in the national economy.

The fixed assets investment of storage industry has grown rapidly, which has been higher than that of the whole society for a long time, and the growth rate has slowed down in recent years. After entering the 21st century, China's warehousing industry has developed rapidly, and all kinds of warehousing enterprises have increased their investment under the guidance of policies and the market. Before 2015, the growth rate of fixed assets investment in warehousing industry (fixed asset investment excluding farmers) has always been ahead of the growth rate of fixed assets investment in the whole society. From 2003 to 2015, the fixed assets investment in warehousing industry reached 40.14%. In the same period, the CAGR of fixed asset investment (excluding farmers) was 23.04%. Since 2010, warehousing industry investment growth has slowed. Investment in fixed assets in the warehousing industry was 685,578 million yuan in 2017, down 1.8 percent from a year earlier, the first negative growth in nearly 20 years.

The main reasons for the slowdown in the growth rate of investment in the storage industry are as follows.

First, the first and second-tier cities clean up low-end and irregular traditional warehouses.

Second, the rising price of urban land and the high cost of investing in warehousing facilities seriously affect the operating efficiency of warehousing enterprises and reduce the operational toughness of warehousing enterprises.

Third, the construction land of warehousing facilities in the city is becoming more and more tight, and the supply of warehousing land in most cities is scarce.

Fourth, the industry investment turn to the function of the warehouse, information, intelligent (cloud warehousing, big data, the Internet of things) and other aspects, resulting in a slowdown in investment growth.