Earnings from Country Garden Holdings Co. and China Vanke Co this week should indicate the extent to which China’s property woes are hurting the world’s second-largest economy.
Property stimulus from rate cuts, reduced down-payment ratios and relaxed home-purchase curbs will probably fail to revive new-home sales amid faltering confidence, Bloomberg Intelligence analyst Kristy Hung said. Banks might become “victims” of the government’s property-rescue measures, BI analysts Francis Chan and Nicholas Ng said, after China pledged to refine real estate policies following proposals outlined to the National People’s Congress earlier this month.Monday: China Resources Land’s property leasing business should have boosted 2023 profit, while higher total rental income may offset a shrinking gross margin in the property development business, BI said.