New World Development Company Limited
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Execu t i ve V i ce - Cha i rman ’s Repo r t
Mainland China Properties and Investment
Following Chinese President Xi Jinping’s call for destocking
property inventories and fostering the sustainable development
of the property sector on the 11th meeting of the Central
Leading Group for Financial and Economic Affairs in November
2015, a series of measures of easing policies on the property
market have been successively launched, including the further
relaxation of the ratio of down payment for home mortgages
for first home purchases and upgraders’ second home
purchases, and the implementation of expansionary fiscal
policies to facilitate the destocking of inventories and guide
industrial transformation and upgrading.
Such measures effectively unleashed the demand for self-
occupied dwellings and spurred the transaction of residential
units, with relatively solid performance in traditional core
areas of cities and regional hubs with vast development
potential. According to the National Bureau of Statistics of
China, on a nationwide basis during the period from January
to June 2016, the GFA of commodity residential housing sold
was 571 million sq m, an increase of 28.6% from the
corresponding period of the previous year; sales amount of
commodity residential housing was RMB4,180.2 billion, an
increase of 44.4% from the corresponding period of the
previous year.
