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Express News | The list of the top 100 companies in Xiamen for 2024 has been released.
Guolian: The effect of the policy is showing, and the sales in the property market improved marginally in October.
According to the national statistics report on the basic situation of the real estate market from January to October 2024, the decline in sales area, sales amount, and completed area has all significantly narrowed year-on-year.
Fitch Ratings' outlook on the real estate development industry for 2025 is 'low economic stability'.
Credit rating agency Moody's pointed out that the outlook for the real estate development industry next year is "low recession stability". The bank indicated that the mainland real estate industry has shown a significant market recovery in the short term under the theme of "stabilization after the decline", but long-term stability still requires a combination of policies for lasting effects. Under a neutral scenario, it is expected that in the fourth quarter of 2025, industry sales will gradually stabilize and rebound, and the year-on-year decline is expected to narrow to within 5%; under an optimistic scenario, it is expected that the sales area in 2025 may return to a year-on-year balance. Moody's stated that in the first three quarters of this year, in a more complex and challenging economic environment, the real estate policy effectiveness was insufficient, the decline in sales narrowed but did not stabilize by the end of September.
The CSRC has issued guidelines on market cap management, requiring listed companies to improve their profitability.
To implement the "State Council's Opinions on Strengthening Supervision, Preventing Risks, and Promoting the High-Quality Development of Capital Markets," further guide listed companies to pay attention to their investment value, effectively enhance investor returns, the China Securities Regulatory Commission issued the "Guidelines for the Supervision of Listed Companies No. 10 - Market Cap Management," which will be implemented from the date of publication. The "Guidelines" require listed companies to improve their company quality, enhance operational efficiency and profitability based on actual situations, and lawfully and compliantly utilize methods such as mergers and acquisitions, stock-based incentives, employee stock ownership plans, cash dividends, investor relations management, information disclosure, share repurchases, etc., to promote the reasonable investment value of listed companies.
Guolian Securities: Tax incentives implemented to promote real estate transactions and alleviate pressure on real estate companies.
This policy adjustment, on one hand, increases the 1% tax rate area standard from 90 square meters to 140 square meters, while on the other hand, reduces the tax rate for second homes, simultaneously lowering the home purchase costs for first-time buyers and upgraders, with an expected improvement on the demand side.
Daiwa: Mainland China's reduction of property purchase tax may slightly help boost domestic property sales.
Morgan Stanley's research report pointed out that the Ministry of Finance of the country launched a series of housing tax reduction and exemption measures yesterday (13th) to reduce the transaction costs for both buyers and sellers. The measures are basically in line with market expectations and may provide slight help to real estate sales in the short term. The bank believes that although the measures reduce costs for both buyers and sellers, they still cannot reverse residents' cautious views on property prices. Together with the residents' reluctance to increase leverage, the bank believes that the above-mentioned tax incentives may slightly help internal property sales, but are unlikely to support a sustainable recovery. Morgan Stanley proposed that real estate developers can hardly benefit from the policies, as the gross margin for most projects.
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