From the beginning 亚博体育登录419inancing channels for

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From the beginning 亚博体育登录419inancing channels for

?developers have become limited, aiming to prevent too much capital flows into the property market.

Yan Yuejin, director of that Shanghai-based E-house China Research a?亚博体育登录419

nd Development Institution, added that property developer bellwethers are proac

tively paying off their debts and controlling risks, instead of pursuing aggressive expansion.?亚博体育登录419品茶微信

He regarded it as a positive sign that the market is on a track of more st

?亚博体育登录419eady development and predicted the trend will continue in the second half of this year.

Sunac China Holdings Ltd, one of China’s five major property developers, expected the tightenin

g regulation to cause a gradual drop in land prices from the current relatively high level back to a reas?亚博体育登录419

onable one. It will also further intensify the differentiation and the integration of the real estate industry.

“Sales and home prices will both be impacted, since people will not be hurried to buy a house,” Sunac Chairman S?亚博体育登录419品茶微信

un Hongbin told the media when announcing the company’s interim results on Thursday in Hong Kong.

Sunac reported net profit of 10.29 billion yuan for the first half of 2019, up 61.7 percent compared with th

?亚博体育登录419e same period one year earlier. Revenue increased 64.9 percent to 76.84 billion yuan year-on-year.

Sun said the company will continue to strictly control land investment in the seco

nd half so as to decrease the gearing ratio at the end of 2019 and maintain its long-term downward trend.?亚博体育登录419品茶微信

Sunac replenished its land bank from January to April when the land market was at a momentary low level. After land pri

ces rebounded in May, the company stopped acquiring land through land auctions.?亚博体育登录419

The developer now owns a total of 213 million square meters, of wh

ich more than 83 percent were located in first-tier and second-tier cities.

?亚博体育登录419品茶微信The purchase of land in the first half made the company’s gearing ratio go up. The company said control of the gearing ra

tio will be one of the most important tasks for the management board from now on.

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