Domestic coworking startup to expand market presence

Chinese coworking startup Kr Space announced it will open 12 new centers that will cover a total area of 100,000 square meters in Beijing and Shanghai within the next 100 days, taking advantage of the opportunities arising from the burgeoning industry.

"We expect to manage more than 1.5 million square meters of coworking space by the end of 2019, serving more than 220,000 members," said Liu Chengcheng, founder and chairman of Kr Space.

At present, coworking spaces take up only about 1 percent of commercial office buildings' total area nationwide. This figure is expected to reach 15 percent within the next five years, Liu said.