It was a rather difficult year for the commercial real estate industry in 2019. Consumer confidence was under some pressure due to the impact of theChina-U.S. trade conflict. The financial environment was intense and the commercial real estate industry was facing downward pressure. The shopping mall market became saturated and the opening rate hit a new low. Vacancy rate rose and rent fell down because of office buildings oversupplied and macro environment was soft. Hotel market，the type of chain and limited service，continued to increase their market share. After the “cold winter”，the apartment industry kept consolidating. Looking forward to 2020，the outbreak of Novel Coronavirus will bring a great shock on the domestic and foreign economies and the commercial real estate market，therefore，bring much more uncertainty. It is expected that the overall opening rate of shopping malls and stores decline significantly；The office market will be benefit from the economic stimulus policies，but the pressure is still high；The annual performance of the hotel markets might be declined sharply，and the sinking market will be a new growth driver；The concentration of long-term rental apartment industry will improve and keep exploring more effective profit model.