Latest news for China Resources Land (OTC:CRBJF) Stock

China Resources Land, or CR Land, is a leading real estate developer with nationwide coverage in China. Aside from the core development business, CR Land differentiates itself from peers with a significant investment property portfolio with luxury focused MixC malls, and it holds a 73.7% stake in listed property management company China Resources Mixc Lifestyle Services. CR Land is a subsidiary of China Resources Holdings, or CR Holdings, a sizable state-owned conglomerate with a diverse presence in the utilities, consumer goods, medical, and property sectors. CR Holdings holds about a 60% stake in CR Land.

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China&#39;s aging population will continue to have an impact on property sector.

China Property Slump: New Home Prices Fall At Fastest Pace In Nine Years

CHINA RESOURCES LAND LTD by China Resources Land Ltd.

China Resources Land Ltd

In a report released today, Jason Lam from DBS maintained a Buy rating on China Resources Land (CRBJF – Research Report), with a price target of HK...

China Resources Land (CRBJF) Gets a Buy from DBS

China Resources Land (HK:1109) has released an update. China Resources Land Limited reported a decrease in gross contracted sales and contracted gr...

China Resources Land Reports Mixed Financials

China Resources Land (HK:1109) has released an update. China Resources Land's subsidiary Shenzhen Runzhi has inked a Construction Management Servic...

China Resources Land Secures New Construction Deal

China Resources Land (HK:1109) has released an update. China Resources Land Limited has provided additional details on their Construction Managemen...

China Resources Land Clarifies Service Agreement Terms

China Resources Land (HK:1109) has released an update. China Resources Land Limited reported a decrease in gross contracted sales and contracted GF...

China Resources Land (HK:1109) has released an update. China Resources Land Limited has announced its list of directors, highlighting the roles and...

China Resources Land Unveils Board Leadership Structure

China Resources Land (HK:1109) has released an update. China Resources Land has announced changes to its board, with Ms. Cheng Hong retiring as a n...

China Resources Land Announces Board Changes

China Resources Land (HK:1109) has released an update. China Resources Land Limited reported a significant increase in its October 2024 performance...

China Resources Land Sees Strong October, Yearly Sales Dip

China Resources Land (HK:1109) has released an update. China Resources Land Limited has secured a CNH2.5 billion term loan facility with specific p...

China Resources Land Secures CNH2.5 Billion Loan Facility

China Resources Land (HK:1109) has released an update. China Resources Land has secured a CNH1 billion sustainability-linked loan facility with a t...

China Resources Land Secures CNH1 Billion Loan

China Resources Land

Stresses in China&#8217;s property market were underlined by data on Wednesday that showed new home prices in December endured their steepest monthly decline since February 2015.



Prices of new homes measured across 70 large and medium-sized Chinese cities fell 0.4% month-on-month in December, following a 0.3% month-over-month drop in November, according to figures from the National Bureau of Statistics and <a href="https://www.msn.com/en-xl/money/other/china-s-home-prices-continue-decline-with-biggest-drop-in-nearly-9-years-as-easing-measures-fail-to-buoy-buyer-confidence/ar-AA1n6vIZ">interpreted</a> by the South China Morning Post.



Over the year, prices in the 70 cities fell by 0.9%. Overall real estate investment fell by 9.6% in 2023 to 11.09 trillion yuan ($1.5 trillion), similar to the decline seen in the previous year.



Among the larger cities, new home prices fell by 1% in Guangzhou and 0.9% in Shenzhen, and stayed flat in Beijing. Prices in Shanghai, however, were up 0.2%.



In tier-two cities, prices for new homes fell by 0.4% month on month, up from November&#8217;s 0.3% fall.



Previously-owned homes fell by 0.1% in tier-one cities after a 0.3% increase in November, with declines of 3.6% in Shenzhen and 3% in Guangzhou. Bejing&#8217;s second-hand home prices rose 1.7%, while Shanghai saw an increase of 4.5%.



Also Read: <a href="https://www.benzinga.com/markets/asia/24/01/36450606/china-housing-shock-property-shares-under-renewed-pressure-after-weak-data">China Housing Shock: Property Shares Under Renewed Pressure After Weak Data</a>



<h2 class="wp-block-heading">Property Shares Fall</h2>



Among the top developers, U.S.-listed shares in China Resources Land Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRBJF#OTC">CRBJF</a>) are down around 5% so far in 2024, while Longfor Group Holdings ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LGFRY#OTC">LGFRY</a>) has slumped 28.5%.



In Hong Kong, the Hang Seng index ended Wednesday&#8217;s session 3.7% lower while the Shanghai Composite lost 2.1%. 



Longfor&#8217;s Hang Seng-listed shares were 6.8% lower while China Resources Land was down 4.3%. 



The iShares MSCI China ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NYSE">MCHI</a>), which tracks China&#8217;s biggest stocks, fell 3% on Wednesday and was down 10% in January.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/17130005/newplot-31.png" alt="" class="wp-image-184951" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/17130005/newplot-31.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/17130005/newplot-31-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>



<h2 class="wp-block-heading">Falling Demand, Falling Population</h2>



Among the reasons for falling prices is lack of demand. Data <a href="https://www.benzinga.com/markets/asia/24/01/36450606/china-housing-shock-property-shares-under-renewed-pressure-after-weak-data">published earlier this month</a> by the China Index Academy showed that average daily home sales during the last week in December fell by 26% compared to the same period a year ago.



&#8220;Both sides of the market supply and demand weakened, the saleable area fell back but remained at a high level, and the clearance period was extended to 19.6 months,&#8221; the researchers said.



Meanwhile, China has a rapidly aging population, despite a growing death rate in 2023 due to the sudden lifting of all COVID-19 restrictions in late 2022. Official data published on Wednesday showed China&#8217;s population fell for the second consecutive year in 2023.



The population decline in 2022 was its first in 60 years.



China&#8217;s diminishing workforce will have an ongoing impact on the property sector in the years to come — even as the government attempts to lend support with first-time buyer subsidies and tax relief on certain homes.



Now Read: <a href="https://www.benzinga.com/markets/asia/24/01/36576782/as-chinas-population-declines-in-2023-will-aging-demographics-boost-healthcare-stocks">As China&#8217;s Population Declines In 2023, Will Aging Demographics Boost Healthcare Stocks?</a>



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Wednesday, January 17, 2024

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