Bloomberg estimated that Chinese property developers reported the worst earnings in at least the last seven years.

 

Bloomberg estimated that Chinese property developers reported the worst earnings in at least the last seven years.

 The economic slowdown has impacted China's real estate industry. 


  • According to Bloomberg's analysis, 60% of the 60 mainland-listed property companies expected losses for last year. 
    • 5% of the companies made profits, and another 5% saw net income growth. 
    • The remaining 30% said the profit dropped. 
  • Liu Shui, research director at China Index Holding, said developers would not be confident to start making new investments soon. 
  • RiseSun Real Estate Development Co.'s loss increased five times to around 25 billion yuan (~$3.7B). 
  • Last week, the IMF said China should take actions beyond measures announced last year to boost developers' equity, bond, and financing.  

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