On July 4th, Gelonhui reported that high-quality state-owned housing enterprises in the mainland resumed growth in June. The contract sales of major developers have improved significantly, with an average monthly increase of 20%, reflecting seasonal factors and basic improvement. Poly Developments and Holdings Group, CCCC Overseas, China Resources Land, China Merchants Shekou Industrial Zone Holdings, Greentown China, Jianfa International, Yuexiu Property, and Agile have all ended their 12-month downward trend, with CCCC Overseas recording a year-on-year increase of 40% in contract sales in June. The bank pointed out that data shows improvements in both the primary and secondary markets, and adjustments in housing prices support market recovery. The reduction in land supply enables the market to balance and believes that the mid-term recovery is supported by improvement in basic factors. The recovery of high-quality state-owned housing enterprises is more clear, with a preference for CCCC Overseas, Greentown China, and Poly Developments and Holdings Group.
大行评级｜建银国际：6月内地优质国有房企恢复增长 偏好中海外、绿城中国及保利发展
Major bank rating | CICC International Securities: High-quality state-owned real estate companies in mainland China resume growth in June, preferring China Overseas, Greentown China, and Poly Developments and Holdings Group.
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