CR Land, Sunac post better interim results in signs of property recovery
China’s embattled property market is showing signs of a tentative recovery, as some developers posted stronger earnings and reduced losses, supported by government stimulus measures and recovering consumption.
China Resources Land’s first-half net profit increased by 16.2 per cent from last year to 11.9 billion yuan (US$1.66 billion), according to the state-owned developer’s statement on Wednesday. Sales rose 20 per cent to 94.9 billion yuan.
Sunac, one of China’s largest privately owned...
