Ming Dynasty Temple takes a knock

Da Yong Da Wang temple from the Ming dynasty (1348 - 1644)

Just beside Shenzhen's Hi-tech park stands a Ming dynasty temple that's taken a knock due to construction going on all around the temple. Just behind the temple is a truly humongous hole in the surface of the earth and this gaping hole is going to be filled with one seriously large shopping mall.

Times are going to get tougher for developers as e-tailing is really taking off in China as e-commerce penetration is already higher in China than the US. A challenge retailers continue to face is also the high cost of retail space per square metre. Some establishments, I know from first hand experience, signed contracts a several years ago are now coming up for renewal and rents have gone through the roof.

By the way that's a workmen's helmet in the bottom left hand corner.