HONG KONG REPORT QUARTERLY CONSTRUCTION COST UPDATE SEPTEMBER 2017
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COST COMMENTARY REVIEW OF TENDER PRICE MOVEMENTS IN HONG KONG According to Rider Levett Bucknall s Tender Price Index, which measures tender price movements of builder s works in the private sector in Hong Kong, there was a decline of 1.0% in tender prices in the second quarter of 2017. On a year-on-year basis, the decline was 0.6%. The following are the second quarter year-on-year tender price movements of builder s works in the private sector in the past five years: 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 +7.1% +9.1% +6.3% +1.2% -0.6% Disclaimer: While the information in this publication is believed to be correct at the time of publishing, no responsibility is accepted for its accuracy. Persons desiring to utilize any information appearing in the publication should verify its applicability to their specific circumstances. Cost information in this publication is indicative and for general guidance only and is based on rates at 2nd Quarter 2017. Hong Kong s economy grew by 3.8% year-on-year in real terms in the second quarter of 2017, compared with the 4.3% increase in the first quarter of 2017. On a seasonally adjusted quarter-to-quarter comparison basis, real GDP increased by 1.0% in the second quarter of 2017 over the first quarter of 2017. According to the Composite Consumer Price Index, overall consumer prices rose by 1.9% in August 2017 over the same month a year earlier, increased 0.1% as compared to July 2017. The seasonally adjusted unemployment rate stood at 3.1% in June - August 2017, same as that in May to July 2017. The underemployment rate remained unchanged at 1.1% in June - August 2017. The tender prices in Hong Kong finally saw a decline of 1.0% in the second quarter of 2017 after rising continuously since 2009. The moderate decline was a result of fewer new capital projects being approved by the Legislative Council in the past year, giving rise to widespread concern among contractors on the future outlook of their business. Contractors are anxious to secure new projects by bidding at a lower margin while their existing projects are being completed. However, a further substantial decline of the tender prices looks unlikely. The shortage of skilled labour has remained a concern and has therefore been providing resistance to a bigger fall in tender prices. While the prices of materials have been rather stable over the past few years, there are trends that commodity prices might start to rise. The reversal of the fall of Renminbi might also result in a rise in the cost of materials imported from Mainland. The government is committed to maintaining the supply of land for private residential and commercial developments and to keeping the expenditure in capital works at a stable level. A few mega projects such as Kai Tak Sports Park, the building works of Third Runway and some of the hospital redevelopments will commence in the coming few quarters. It is forecast that tender prices will continue to move moderately up or down within a narrow range until the end of this year. Macau Macau s Gross Domestic Product increased by 11.5% year-on-year in real terms in the second quarter of 2017. The unemployment rate for June to August 2017 stood at 2.0%, same as in the previous period (May to July 2017). The average daily wage of construction workers was MOP880 in the second quarter of 2017, increased by 6.0% on a quarter-to-quarter basis. The average daily wages of skilled and semi-skilled workers increased by 6.0% to MOP884, while that of unskilled workers increased by 1.4% to MOP439. Due to the increase in visitor arrivals and higher visitors spending, there is an accelerated growth in gaming and tourism services in the second quarter of 2017. However, with the contraction of private construction investment and successive completion of large-scale gaming and tourism facilities, construction output in the private sector has declined as compared with previous years. In recent months, the government s investment in public construction works (such as construction of public housing units, infrastructures, social projects, etc.) has been growing significantly. With the recent damages caused by the direct hit of Typhoon Hato, the government is planning new infrastructure works to improve its response and to provide preventive measures against natural disasters. This will provide positive support to the construction industry in the next few years. However, tender prices in the short term will remain weak as compared to the past few years. 1
HONG KONG REPORT SEPTEMBER 2017 2600 TENDER PRICE INDICES IN HONG KONG RLB = Rider Levett Bucknall (Private Sector) ASD = Architectural Services Department (Public Sector) 2600 2400 2400 2200 2200 2000 2000 1800 1600 RLB 1800 1600 1400 1400 1200 1200 1000 ASD 1000 800 800 600 600 400 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 Quarter / Year Graph showing cost trends in the construction industry in Hong Kong based on Tender Prices for Builder's Works 400 TENDER PRICE INDICES RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD Quarter 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1 104 160 100 210 140 238 144 258 160 345 206 275 145 221 150 270 164 320 203 460 262 2 112 173 106 222 143 236 146 275 167 345 213 258 145 238 153 270 174 350 208 500 285 3 130 185 124 230 144 238 158 300 190 318 203 243 137 255 153 273 185 380 230 535 304 4 100 148 198 131 238 143 245 158 325 199 290 191 228 140 263 149 300 201 420 238 550 329 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1 570 347 620 389 630 364 560 298 570 328 560 326 605 376 665 385 785 479 960 542 1020 574 1090 608 2 570 353 620 393 620 370 560 298 570 332 555 335 615 392 690 403 820 510 960 548 1030 561 1075 592 3 600 369 630 375 600 342 540 317 570 323 565 344 630 373 700 411 865 521 985 552 1045 582 1075 573 4 610 381 630 376 580 327 560 326 560 337 585 351 655 380 740 438 925 541 1000 559 1080 596 1055 515 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 1 1035 531 1025 527 1100 586 1280 708 1400 772 1575 902 1800 1103 1660 1024 1510 959 1400 862 1270 687 1205 720 2 1020 548 1045 527 1125 594 1330 712 1430 813 1660 953 1765 1054 1640 1031 1440 873 1390 842 1240 742 1230 723 3 1020 519 1075 541 1160 615 1360 733 1485 848 1760 996 1695 1065 1620 1025 1435 858 1360 807 1210 692 1195 722 4 1030 518 1080 563 1220 666 1370 747 1520 885 1810 1051 1675 1034 1600 989 1410 844 1290 721 1185 733 1210 681 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1 1255 685 1260 711 1300 714 1440 821 1680 1118 1630 1074 1670 1134 1840 1273 1995 1414 2145 1516 2360 1621 2510 1732 2 1265 712 1270 716 1310 730 1475 859 1810 1305 1605 983 1730 1161 1870 1320 2045 1438 2190 1532 2390 1648 2540 1761 3 1230 704 1275 718 1360 751 1535 906 1865 1401 1620 1111 1750 1249 1925 1369 2075 1467 2230 1559 2425 1679 2545 1777 4 1220 701 1280 697 1410 789 1595 998 1750 1262 1655 1107 1785 1266 1955 1408 2100 1496 2290 1590 2460 1703 2565 1775 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2565 1775 2580 1779 2 2570 1776 2555 3 2580 1783 4 2580 1781 2
COMMON UNIT RATES IN HONG KONG Description Average Rates in HK$ Unit 3Q2016 4Q2016 1Q2017 2Q2017 Reinforced concrete Grade 40 m 3 1,330.00 1,250.00 1,130.00 1,110.00 Sawn formwork m 2 460.00 480.00 470.00 450.00 Deformed high yield steel bar reinforcement kg 9.20 10.00 9.80 10.10 105 mm Solid concrete block wall m 2 270.00 290.00 290.00 285.00 Mastic asphalt roofing overall 20 mm thick (2-coat work) on horizontal surfaces 20 mm (Finished) Timber strip flooring including plywood sub-floor, sanding and wax polishing m 2 174.00 174.00 174.00 172.00 m 2 770.00 780.00 780.00 770.00 Timber skirting 100 mm high x 13 mm thick m 104.00 105.00 105.00 104.00 50 mm Solid core flush door faced both sides with 5 mm timber veneered plywood including door frame, architrave, mouldings and painting (excluding ironmongery) Galvanised mild steel in balustrades, railings and general welded and framed work No. 6,700.00 6,700.00 6,700.00 6,600.00 kg 40.00 40.00 40.00 40.00 Structural steelwork - standard sections kg 38.00 38.00 38.00 39.00 Fluorocarbon coated aluminium windows - frame and hardware including clear float glass and glazing (single-glazed windows) m 2 2,900.00 2,900.00 2,900.00 2,870.00 20 mm Cement and sand (1:3) paving m 2 95.00 100.00 105.00 110.00 Coloured unglazed ceramic mosaic floor tiling m 2 280.00 280.00 280.00 285.00 Marble slab flooring (mid-range, European origin) m 2 3,680.00 3,670.00 3,670.00 3,630.00 Two coats internal lime cement plaster to soffit and beams m 2 113.00 114.00 114.00 115.00 Metal panel suspended ceiling m 2 760.00 760.00 760.00 755.00 Ceramic / homogeneous wall tiling; internal work m 2 620.00 620.00 620.00 615.00 Ceramic mosaic external wall tiling; adhesive fixed (45 x 45 or 45 x 95 mm tiles) Alkali resistant primer and two coats of emulsion paint on plastered walls and ceilings m 2 480.00 480.00 480.00 480.00 m 2 65.00 66.00 66.00 65.00 Notes: - The unit rates above are for general guidelines of likely tendered rates obtained by competitive tendering for lump sum fixed price contracts with a normal contract period. - The rates are also based on normal site conditions, locations and normal working hours. 3
HONG KONG REPORT SEPTEMBER 2017 Office Type of Building 20172 Approximate Order of Construction Costs in Hong Kong and Selected Cities in Hong Kong HK$ Macau MOP Beijing (Cost per Square Metre Construction Floor Area at 2nd Quarter 2017 Prices) Chengdu Guangzhou Shanghai Shenzhen High Quality 23,400-33,100+ 17,800-22,700+ 7,400-11,000 6,700-9,700 7,200-10,800 7,400-10,800 7,100-10,500 7,100-10,700 6,700-9,700 7,300-10,900 6,700-9,700 6,700-9,700 Medium Quality 18,400-22,500 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Ordinary Quality 15,600-19,800 10,900-14,700 3,850-5,300 3,500-4,600 3,700-4,900 3,850-5,000 3,600-4,750 3,700-5,000 3,500-4,600 3,800-5,100 3,450-4,550 3,450-4,600 Shopping Centre High Quality 29,700-35,400+ 22,800-27,600+ 7,700-12,100 6,800-10,600 7,400-11,300 7,600-11,800 7,200-11,100 N/A N/A N/A N/A N/A Medium Quality 22,500-27,600 N/A 6,100-7,700 5,500-6,900 6,000-7,300 6,100-7,700 5,800-7,100 N/A N/A N/A N/A NA Residential High Rise; High Quality ; 24,200-36,500+ 14,800-20,300+ 4,150-5,750 3,700-5,200 4,000-5,500 4,050-5,600 3,850-5,300 4,000-5,400 3,650-5,100 4,100-5,600 3,650-5,100 3,650-5,100 High Rise; Better Quality ; 16,900-19,800 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A High Rise; Ordinary Quality ; 15,300-16,500 8,100-9,800 2,250-3,050 1,950-2,700 2,150-2,900 2,150-2,950 2,100-2,850 2,100-2,950 1,950-2,700 2,150-2,950 1,950-2,700 1,950-2,700 House; High Quality ; 35,300-52,800+ N/A 4,500-6,200 4,000-5,600 4,150-5,900 4,350-6,100 4,100-5,800 4,150-5,900 3,900-5,500 4,450-6,100 3,900-5,500 3,900-5,500 House; Medium Quality ; 23,300-29,200 N/A 2,950-3,850 2,650-3,550 2,850-3,650 2,900-3,850 2,750-3,600 2,900-3,650 2,650-3,500 2,900-3,750 2,650-3,500 2,650-3,500 Clubhouse 32,700-53,600+ N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A External works & landscaping (cost/m 2 external area) Hotel (including FF&E) 4,250-9,100+ N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 5-Star 35,200-42,800+ 29,900-36,000+ 12,400-16,500 11,300-14,500 12,700-16,400 12,300-16,200 11,800-15,400 11,700-15,600 11,200-14,600 12,200-16,100 11,100-14,600 11,100-14,600 3-Star 29,100-33,500 23,600-26,300 9,300-11,900 8,500-10,700 9,400-11,400 9,200-11,700 8,900-11,200 8,900-11,500 8,500-10,700 9,200-11,700 8,300-10,600 8,300-10,700 Industrial Landlord; High Rise ; 10,000-12,400 N/A 2,550-3,450 2,200-3,100 2,450-3,300 2,450-3,450 2,350-3,200 2,400-3,250 2,250-3,100 2,450-3,400 2,250-3,100 2,250-3,100 End User; Low Rise ; 13,500-20,400 N/A 3,650-6,400 3,250-5,700 3,450-6,300 3,600-6,300 3,350-6,200 3,450-6,200 3,250-5,700 3,600-6,300 3,250-5,700 3,250-5,700 Carpark Basement; up to 2 Levels ; 2 19,500-27,100+ 10,700-13,300+ 3,550-6,200 3,500-5,800 3,600-6,300 3,900-6,500 3,600-6,200 3,500-5,900 3,500-5,900 3,600-6,200 3,550-5,900 3,500-5,900 Multi-Storey ; 8,900-11,300 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A NOTES Tianjin Wuhan Wuxi Xian Zhuhai The construction costs above are based on prices obtained by competitive tendering for lump sum fixed price contracts with a normal contract period and are based on normal site conditions and locations. Extra costs should be allowed for projects with fast track programme, non-traditional procurement approaches and multi-phasing completion, etc. The costs are average square metre unit costs only not based on any specific drawings / design. Therefore they provide nothing more than a rough guide to the probable cost of a building. Figures outside the given ranges may be encountered. When information is required on a specific project, it is essential that professional advice be sought. The standards for each type of building in selected cities in do not necessarily follow those in Hong Kong due to local design practices and choice of materials. The building costs exclude furniture, fittings and equipment (except hotel / serviced apartment / clubhouse), site formation and external works, finance and legal expenses, consultants' fees and reimbursables, value of land and fluctuations in prices between the price date as specified above and the time of calling tenders. ( / / ) Construction floor areas are measured to the outside face of external walls (or in the absence of such walls, the external perimeter) of the building & include all lift shafts, stairwells and E&M rooms but exclude lightwells and atrium voids. These areas are usually larger than Architect s calculation of Gross Floor Area (Plot Ratio Area). () ( ) 4 5 Other Specific Exclusions : HOTEL : pre-opening expenses, operating expenses, working capital, staff training and administrative costs SHOPPING CENTRE : fit out to tenant areas INDUSTRIAL; LANDLORD () : security system, air conditioning, electrical distribution in tenant areas; production and warehousing equipment; special M&E provisions PROJECTS IN SELECTED CITIES IN CHINA : utilities to the site beyond site boundary, connection charges and capital contribution; local authority levies and taxation; import duties
HONG KONG REPORT SEPTEMBER 2017 LABOUR COST TRENDS AVERAGE DAILY WAGES OF WORKERS ENGAGED IN PUBLIC SECTOR CONSTRUCTION PROJECTS 2,200 1,500 2,150 1,450 2,100 1,400 2,050 1,350 2,000 1,300 Daily Wages (HK$ per day) 1,950 1,900 1,850 1,800 1,250 1,200 1,150 1,100 1,750 1,050 1,700 1,000 1,650 950 1,600 900 1,550 850 11 15 12 1 16 2 3 4 5 6 7 8 9 10 11 12 1 17 2 3 4 5 6 Month / Year Average Daily Wages in HK$ per day Selected Occupations 2015 2016 2017 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 Bar Bender and Fixer 1,910.2 1,899.4 1,897.8 1,948.4 1,996.5 2,020.6 2,055.7 2,084.2 2,085.9 2,099.8 2,116.7 2,112.5 2,113.1 2,108.4 2,104.8 2,088.3 2,072.7 2,073.9 2,099.6 2,137.2 Concretor 1,909.6 1,895.4 1,867.1 1,864.3 1,902.2 1,939.2 1,938.9 1,932.5 1,928.6 1,920.3 1,972.3 1,964.5 2,001.2 1,959.3 1,986.4 1,993.8 1,993.8 1,946.9 1,939.1 1,926.4 Carpenter (formwork) 1,858.7 1,837.5 1,885.9 1,879.5 1,949.6 2,016.9 2,060.1 2,067.9 2,043.3 2,081.3 2,128.7 2,094.4 2,068.2 2,033.0 1,995.3 1,994.4 1,978.2 1,963.3 1,932.6 1,925.9 Painter and Decorator 1,112.5 1,121.5 1,139.1 1,150.3 1,141.0 1,135.2 1,121.7 1,141.8 1,179.6 1,182.1 1,164.1 1,172.8 1,141.7 1,168.5 1,195.6 1,225.5 1,232.3 1,253.4 1,280.5 1,271.3 Plasterer 1,348.5 1,343.6 1,349.6 1,354.2 1,339.0 1,365.5 1,381.3 1,388.7 1,387.8 1,408.7 1,437.5 1,362.2 1,375.3 1,378.1 1,394.4 1,384.5 1,361.9 1,362.7 1,472.6 1,420.3 Metal Worker 1,172.7 1,159.4 1,153.0 1,146.5 1,131.2 1,153.3 1,165.6 1,180.5 1,177.9 1,175.1 1,184.5 1,142.1 1,149.5 1,156.0 1,161.5 1,196.6 1,189.8 1,186.5 1,258.6 1,211.9 Plumber 1,263.2 1,258.7 1,255.3 1,267.5 1,277.3 1,283.6 1,296.3 1,285.1 1,296.2 1,293.0 1,294.6 1,301.0 1,347.6 1,373.7 1,403.2 1,397.0 1,397.3 1,427.9 1,423.8 1,416.7 General Workers 927.8 915.7 911.3 919.1 920.9 926.1 943.8 945.7 958.2 969.7 981.5 999.3 999.0 1,011.0 1,018.7 1,032.6 1,051.8 1,078.3 1,073.0 1,037.6 (Source: Census and Statistics Department) 6
MATERIAL COST TRENDS AVERAGE WHOLESALE PRICES OF SELECTED BUILDING MATERIALS 6,000 8,500 5,500 8,000 5,000 7,500 4,500 7,000 4,000 6,500 Costs of Materials (HK$) 3,500 3,000 2,500 6,000 5,500 5,000 2,000 4,500 1,500 4,000 1,000 3,500 500 3,000 11 15 12 1 16 2 3 4 5 6 7 8 9 10 11 12 1 17 2 3 4 5 6 Month / Year Average Wholesale Prices of Selected Building Materials Building Materials 2015 2016 2017 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 Sand ($/10 t) 1,650 1,890 1,380 1,070 1,190 1,220 1,220 1,220 1,320 1,480 1,530 1,410 1,700 1,800 1,240 1,210 1,210 1,200 1,130 Bitumen ($/t) 7,600 7,150 7,017 6,750 6,583 6,167 5,650 5,450 5,450 5,117 4,850 4,850 4,883 4,983 5,050 5,683 5,950 6,150 6,150 Portland Cement ($/t) 739 738 726 720 714 713 712 712 710 715 715 713 713 713 712 711 707 702 702 Sawn Hardwood 50x75 ($/m 3 ) 5,707 5,707 5,707 5,707 5,707 5,707 5,707 5,707 5,707 5,707 5,707 5,707 5,707 5,707 5,707 5,814 5,814 5,814 5,814 Mild Steel Round Bars ($/t) 5,090 5,073 5,054 5,059 5,270 5,380 5,450 5,255 5,275 5,330 5,395 5,320 5,550 5,675 5,610 5,600 5,660 5,590 5,520 High Tensile Steel Bars ($/t) 3,333 3,242 3,157 3,200 3,466 3,905 3,844 3,570 3,558 3,692 3,730 3,700 3,985 4,264 4,272 4,304 4,437 4,295 4,270 (Source: Census and Statistics Department) 7
HONG KONG REPORT SEPTEMBER 2017 GDP Growth and Tender Price Movement The following graph shows the movement of RLB s Tender Price Index (TPI) and Hong Kong s per capita Gross Domestic Product (GDP) in the past 20 year period, highlighted with major events in Hong Kong s economy and construction industry. There is a strong correlation between GDP growth and tender price movement. RLB s TPI reached its first record high in 4th Quarter 1997. It fell continuously following the 1997 Asian Financial Crisis, through the dot-com bubble in 2000 to the SARS outbreak in 2003. The overall fall was about 35% over the six year period. Starting from 2004, the TPI rose along with Hong Kong s economic recovery and reached its second record high in 2008 after rising by an overall 55%. There was a short-lived drop in Hong Kong s GDP in 2008 to 2009 due to the Global Financial Crisis and the TPI also fell by about 14% concurrently. The GDP and TPI rose again after 2009 with the TPI reaching its third record high in 2016. Disclaimer The above information is for general reference purposes only without being necessarily applicable to specific developments or projects of any particular individual or company. 8
OFFICES IN HONG KONG, MACAU AND MAINLAND CHINA HONG KONG 20th Floor Eastern Central Plaza 3 Yiu Hing Road Shaukeiwan Hong Kong SAR 3 20 Telephone : 852 2823 1823 Facsimile : 852 2861 1283 E-mail : hongkong@hk.rlb.com BEIJING Room 1803-1809, 18th Floor East Ocean Centre 24A Jian Guo Men Wai Avenue Chaoyang District Beijing 100004 24A 18 1803-1809 100004 Telephone : 86 10 6515 5818 Facsimile : 86 10 6515 5819 E-mail : beijing@cn.rlb.com CHENGDU Room 2901-2904, 29th Floor Square One No.18 Dongyu Street Jinjiang District Chengdu 610016 18 29 2901-2904 Telephone : 86 28 8670 3382 Facsimile : 86 28 8613 6160 E-mail : chengdu@cn.rlb.com CHONGQING Room 3007-3008, 30th Floor Metropolitan Tower No 68 Zourong Road Central District Chongqing 400010 68 30 3007-3008 400010 Telephone : 86 23 6380 6628 Facsimile : 86 23 6380 6618 E-mail : chongqing@cn.rlb.com DALIAN Room 1103 Xiwang Tower 136 Zhongshan Road Zhongshan District Dalian 116001 Liaoning Province 136 1103 116001 Telephone : 86 411 3973 7778 Facsimile : 86 411 3973 7779 E-mail : dalian@cn.rlb.com GUANGZHOU Room 1302-1308 Central Tower No. 5 Xiancun Road Guangzhou 510623 Guangdong Province 5 1302-1308 510623 Telephone : 86 20 8732 1801 Facsimile : 86 20 8732 1803 E-mail : guangzhou@cn.rlb.com GUIYANG Room E, 12th Floor Fuzhong International Plaza 126 Xin Hua Road Guiyang 550002 Guizhou Province 126 12 E 550002 Telephone : 86 851 8553 3818 Facsimile : 86 851 8553 3618 E-mail : guiyang@cn.rlb.com HAIKOU Room 1705, 17th Floor Fortune Centre 38 Da Tong Road Haikou 570102 Hainan Province 38 17 1705 570102 Telephone : 86 898 6672 6638 Facsimile : 86 898 6672 1618 E-mail : haikou@cn.rlb.com HANGZHOU Room 2306 Green Town Deep Blue Plaza No. 203 Zhao Hui Road Hangzhou 310014 Zhejiang Province 203 2306 310014 Telephone : 86 571 8539 3028 Facsimile : 86 571 8539 3708 E-mail : hangzhou@cn.rlb.com MACAU Alameda Dr. Carlos D AssumpÁ o No. 398 Edificio CNAC 9º Andar I-J Macau SAR 398 9 I-J Telephone : 853 2875 3088 Facsimile : 853 2875 3308 E-mail : macau@mo.rlb.com NANJING Room 1201, 12th Floor South Tower, Jinmao Plaza 201 Zhong Yang Road, Nanjing 210009, Jiang Su Province 201 12 1201 210009 Telephone : 86 25 8678 0300 Facsimile : 86 25 8678 0500 E-mail : nanjing@cn.rlb.com QINGDAO Room 2019, 20th Floor Parkson Commercial Plaza 44-60 Zhongshan Road Shinan District Qingdao 266001 Shandong Province 44-60 20 2019 266001 Telephone : 86 532 8612 3015 Facsimile : 86 532 8612 3025 E-mail : qingdao@cn.rlb.com SHANGHAI 22nd Floor, Greentech Tower No.436 Heng Feng Road Jingan District Shanghai 200070 436 22 200070 Telephone : 86 21 6330 1999 Facsimile : 86 21 6330 2012 E-mail : shanghai@cn.rlb.com SHENYANG 25th Floor Tower A, President Building No. 69 Heping North Avenue Heping District Shenyang 110003 Liaoning Province 69 A 25 110003 Telephone : 86 24 2396 5516 Facsimile : 86 24 2396 5515 E-mail : shenyang@cn.rlb.com SHENZHEN Room 4510-4513 Shun Hing Square Diwang Comm. Centre 5002 Shennan Road East Shenzhen 518001 Guangdong Province 5002 4510-4513 518001 Telephone : 86 755 8246 0959 Facsimile : 86 755 8246 0638 E-mail : shenzhen@cn.rlb.com TIANJIN Room 502, 5th Floor Tianjin International Building 75 Nanjing Road Heping District Tianjin 300050 75 5 502 300050 Telephone : 86 22 2339 6632 Facsimile : 86 22 2339 6639 E-mail : tianjin@cn.rlb.com WUHAN Room 2301 New World International Trade Centre No. 568 Jianshe Avenue Wuhan 430022 Hubei Province 568 2301 430022 Telephone : 86 27 6885 0986 Facsimile : 86 27 6885 0987 E-mail : wuhan@cn.rlb.com WUXI Room 1410-1412 Juna Plaza No. 6 Yonghe Road Nanchang District Wuxi 214000 Jiangsu Province 6 1410-1412 214000 Telephone : 86 510 8274 0266 Facsimile : 86 510 8274 0603 E-mail : wuxi@cn.rlb.com XIAN Room 1506, 15th Floor, Tower F Chang an Metropolis Center No.88 Nanguan Zheng Street Beilin District Xian 710068 Shaanxi Province 88 F 15 1506 710068 Telephone : 86 29 8833 7433 Facsimile : 86 29 8833 7438 E-mail : xian@cn.rlb.com ZHUHAI Room 3108, 31st Floor Everbright International Trade Centre No. 47 Haibinnanlu, Jida, Zhuhai 519015 Guangdong Province 47 31 3108 519015 Telephone : 86 756 388 9010 Facsimile : 86 756 388 9169 E-mail : zhuhai@cn.rlb.com
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