In 2017，economy continued to grow，income per capita increased and supportive policies continued to be put in place，which promoted the further development of the bookstore retailing industry in China. At the same time，the strengthened supervision of content in culture area and the accelerated application of advanced technology also brought new changes to the bookstore retailing industry. Overall，in 2017，the book industry and book retailing market developed rapidly，and new cultural spaces continued to expand their layout in the first tier and key second tier cities. Besides，Xinhua Bookstores promoted the transformation and upgrading of traditional bookstores，and the trend of industrial chain integration for physical cultural space became clearer，and the business models were constantly innovative. However，from the perspective of investment，the investment and financing activities related to bookstore retailing were still inactive in 2017.

In2018，the trend of digital reading will be irreversible，and the physical cultural spaces will present two characteristics：bookstore will partially return to its nature，and the business model of the whole cultural space will continue to be optimized and develop in two ways. During this process，there will be potential investment opportunities in the fields of new chained culture spaces，high-quality content，product providers，and digital reading industry related enterprises.