In 2016，China’s sustained economic growth further promoted the development of cultural consumption industry，and created a favorable economic environment for bookstore retailing industry. The central government and local governments introduced a series of policies to support the development of physical bookstores，and put forward specific suggestions for issues like financial support and industrial policy to create a favorable policy environment. Overall，the bookstore retailing market maintained a high growth rate.

At the same time，in 2016，physical bookstores developed and expanded rapidly in the first tier cities and key second tier cities，and the bookstores became larger and larger，with more and more functions. The boundary of bookstore became broader：compound culture spaces had developed rapidly；online and offline sales channels had been further integrated；and cultural consumption and cultural real estate industry had combined closer. Physical bookstores had turned to cultural spaces，changing from selling books to selling life style. During this process，the accelerated integration of industry chain had become an important trend，and the capacity of integration also became an important advantage for physical bookstores to stand out.

Several investment cases have already occurred in bookstore retailing industry. For example，YJY has achieved the rapid expansion of scale and coverage by introducing external capital，and OWSpace has also promoted the extension and integration of industrial chain with external capital. Bookstore retailing industry is still in a primary stage of capital operation，and has limited use of capital to achieve high-speed development. However，in the near future，with further integration of industrial chain，there will be more investment opportunities with both strategic value and financial value.