Shares of property firms surge as sales decline in China

03 Jul 2024 CW Team

The yearly sales reductions of major Chinese property developers continued to decrease in June, according to private statistics, which caused shares of Chinese real estate companies listed in Hong Kong to soar. Earlier in the day, the Hang Seng Mainland Properties Index had jumped as high as 4.8%; by noon, it was up 3.5%. State-backed China Resources Land and privately held CIFI Holdings rose more than 4%, while private developers Longfor Group, Shimao Group, and Agile all saw increases of more than 5%. The impact of a significant government package of assistance measures announced in mid-May on stabilising the nation's failing real estate sector is being actively monitored by the market. According to statistics from property researcher CRIC, sales value at China's top 100 real estate developers was down 16.7% from a year earlier in June but increased 36.3% from May, a narrower loss than the 33.7% annual decline in May. According to CRIC, June sales for almost one-third of these developers?mostly state-owned and backed businesses like China Overseas Land & Investment, Poly Developments, Greentown China, and China Resources Land?showed year-over-year increases, underscoring the division in the industry. After the plethora of supporting measures, the research company stated that it anticipates more house purchases and that the annual decline in July will continue to reduce because of the low base from the previous year. China Index Academy, a different real estate research firm, said on Monday that the typical cost for new homes across 100 cities edged up 0.15% month-on-month in June, their slowest pace in five months. In May, Chinese authorities unveiled what they called a historic support package for the property sector, which has been hit hard by a liquidity crunch since 2021, with many firms defaulting on debt.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..