China ’s Kr Space has opened two new co - working locations in Beijing and Shanghai , and plans to launch 12 further locations in those cities in the next 30 days . According to Frost & Sullivan, China’s co-working space industry will grow at an annual compound rate of 50.2% in the next 5 years. The country ’s leading workspace provider said its rapid expansion is due to increasing demand for co - working spaces in China . A surge of entrepreneurial growth is fuelling the expansion , with six million new businesses launching in the country in 2017 , and co - working space in China expected to reach 10 million sq ft in total by 2020 .
China ’s Kr Space has opened two new co - working locations in Beijing and Shanghai , and plans to launch 12 further locations in those cities in the next 30 days . The country ’s leading workspace provider said its rapid expansion is due to increasing demand for co - working spaces in China . A surge of entrepreneurial growth is fuelling the expansion , with six million new businesses launching in the country in 2017 , and co - working space in China expected to reach 10 million sq ft in total by 2020 .