INSIGHTS
Insights
69 articles
2026
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Completed-Home Sales Reforms Expand as Commercial REITs and Existing-Asset Strategies Advance
More than 20 cities introduce housing sales reform rules as developer sales and land markets diverge. Shanghai K11 proposes a land-use extension and Beijing Yizhuang advances retail renewal. Vanke settles liabilities with assets, Seazen's commercial REIT takes effect and RiseSun proposes offshore debt restructuring. Hong Kong housing registrations soften while forecasts await confirmation.
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Urban Renewal Moves Towards Platform-Based Delivery as Office Deals and Rental Housing REITs Advance
Beijing establishes an urban renewal platform, Jiangsu strengthens judicial support and Chengdu revises housing sales rules. Corporate and state-backed buyers support Shanghai office deals, a rental housing REIT lists and PAG signs an Evergrande Property Services stake purchase. Hong Kong hotel repricing contrasts with improving office leasing.
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Shanghai Sets Urban Renewal Targets as China's New and Existing Home Markets Diverge
Shanghai sets measurable urban renewal targets, while Hangzhou and Jiangxi refine housing and land policies. China's new-home investment and sales remain under pressure as existing-home transactions expand. Beijing renewal projects, corporate investment, Hong Kong student housing and a Japanese rental housing REIT advance.
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Urban Renewal Policies Advance as Shanghai Property Deals and Office Leasing Show Diverging Trends
Shandong and Wuhan refine urban renewal policies, while Shenzhen proposes broader housing provident fund withdrawals. Corporate buyers remain active in Shanghai and office absorption improves despite rental pressure. Asset disposals, Hong Kong student housing conversions and Japan's housing adjustment remain in focus.
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Mortgage Subsidies and Urban Renewal Gain Support as Core Asset and Conversion Opportunities Diverge
Mortgage interest subsidies reduce monthly payments for eligible first-home buyers, while urban renewal policies broaden financing and exit routes for existing assets. Core Shanghai land parcels and upgrade-oriented residential projects remain active, alongside commercial-building conversions in Hong Kong and rental housing investment in Japan.
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Central Government Steps Up Urban Renewal Funding; H1 Commercial Real Estate En-bloc Transactions Hit a Record High for the Period
The 2026 central budget earmarks RMB 97.0 billion for urban renewal, with a further RMB 160.0 billion of ultra-long-term special treasury bonds directed to underground pipe network upgrades, completing a "fiscal leverage - bank loans - operating cash flow - REIT exit" chain; China's commercial real estate en-bloc transaction value reached RMB 144.2 billion in H1, a record high for the period, with insurance capital and institutional funds rising to 27% of deals; the GF New World Commercial REIT has been filed, proposing to raise RMB 3.818 billion with the Shanghai K11 mixed-use property as its underlying asset; Shanghai's Bund NEO and Huiyin Building on Nanjing West Road completed equity transactions; CapitaLand Investment acquired the Hong Kong ibis hotel for HK$2.3 billion for conversion into student accommodation, the largest hotel deal in Hong Kong since 2019; land prices across Japan rose for a fifth consecutive year.
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Revised Housing Provident Fund Regulations Near Implementation; Four Public REITs Approved in a Week
The revised Regulations on the Administration of Housing Provident Funds take effect on 20 September, elevating contributions by flexibly employed workers to an institutional arrangement and explicitly supporting withdrawals for rental housing; four public REITs were approved in the primary market in a single week, with the GF Seazen Wuyue Commercial REIT receiving registration approval and proceeding to issuance and the Guotai Haitong CSCEC Rental Housing REIT launching price inquiry; land transaction value across 300 cities nationwide reached RMB 45.0 billion in week 36, up 64.5% week on week, with tier-1 cities accounting for about 54%; Hong Kong's private domestic rental index rose to 207.4 in July, a record high.
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Real Estate Credit Reform Supporting Measures Take Effect; First Land Auctions After the New Policy Show a "Hot and Cold Divide"
Supporting measures for the real estate credit system reform have taken effect, with each project matched to a single lead bank and the maximum mortgage loan term extendable from 30 to 40 years; Shanghai's 15th Five-Year Plan for housing and urban-rural development calls for 25 to 28 million sqm of new commodity housing supply; the Chuangjin Hexin Beijing State-owned Assets Management Commercial Real Estate REIT listed on the Shenzhen Stock Exchange; China Overseas Land & Investment secured the Shanghai Zhenru Center site at the reserve price of RMB 15.09 billion, and China Resources Land won the Wenyu River site in Beijing's Shunyi District for RMB 8.2993 billion after 174 rounds of bidding; China Merchants Commercial REIT acquired a Hung Hom student accommodation asset for about HK$528.5 million, and Ares completed fundraising for a ¥612 billion Japan logistics fund.
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GRA Market Weekly (2026-08-28)
Three ministries jointly issue a notice advancing completed-home sales of commodity housing, with the presale threshold tightened to structural topping-out, and Chengdu and Xi'an follow with new policies; August residential land GFA sold across 300 cities is down 34.2% YoY but land proceeds are up 6.9%, and Shanghai commercial real estate en-bloc transactions reach RMB 27 bn in H1, up 20% YoY; KKR seeks to sell nine commercial real estate projects in China at a discount of c. 50%, and a six-party consortium wins the Hong Kong Hung Shui Kiu site-wide development tender for HKD 1.03 bn.
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GRA Market Weekly (2026-08-16)
Shanghai issues the nation's first industrial and commercial land-use-right renewal policy, clearing the core land-tenure bottleneck for REITs issuance; China Jinmao pays RMB 9.761 bn for the Haidian Sijiqing plot to take Beijing's "double land king" title, while CSC Shenyang International Software Park REIT falls more than 20% in secondary trading; PAG acquires another three Wanda Plazas, and Japan's Q2 commercial real estate transactions reach JPY 1.12 tn, up 17% YoY.
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GRA Market Weekly (2026-08-09)
The State Council approves the draft revision of the Housing Provident Fund Management Regulations, and Beijing comprehensively loosens purchase restrictions, streamlines gifting and relaxes housing provident fund rules from 8 August; China Overseas wins the Guangqu Road residential plot in Chaoyang for RMB 8.399 bn, Beijing's "double land king" of the year, while Evergrande Hongqiao International Center is listed for judicial auction at RMB 7.843 bn; Asia-Pacific real estate investment rises 27% YoY in H1, led by Japan, with Hong Kong up 129%.
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GRA Market Weekly (2026-08-02)
The CPC Politburo meeting sets the tone with "stabilising the real estate market" and stronger counter-cyclical adjustment; in Shanghai's sixth land auction batch a Poly-China Resources consortium takes the Yangpu Badaitou plot for RMB 16.12 bn, a Yangpu record, and Hua An Jin Jiang Commercial REIT is oversubscribed on the first day of its public offering; China Life Capital and Mapletree set up a RMB 1.5 bn industrial and logistics fund, and CapitaLand establishes a RMB 3.15 bn inter-institutional REIT.
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GRA Market Weekly (2026-07-24)
MOHURD elevates elevator retrofitting to a national priority with first-time ultra-long special treasury bond funding; KKR and AEW seek exits from tier-1 China commercial real estate as H1 2026 en-bloc transactions reach RMB 121.2 bn, up 76% YoY.
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GRA Market Weekly (2026-07-18)
Nine ministries back ABS and commercial real estate REITs issuance by retail operators; the first central-SOE commercial REIT, ChinaAMC Poly Commercial REIT, launches with retail subscriptions oversubscribed, while Pinduoduo pays RMB 3.37 bn in cash for DBS Bank Tower in Lujiazui.
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GRA Market Weekly (2026-07-10)
Six central ministries jointly roll out a systematic housing-market stabilisation package spanning credit, taxes and stock revitalisation; the first REITs index funds complete their offerings, and Poly Developments pays RMB 4.605 bn for a core residential plot in Hangzhou's Qianjiang Century City.
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GRA Market Weekly (2026-06-26)
Guangzhou institutionalises the conversion of under-performing office buildings into affordable rental housing; Poly Developments pays RMB 10.51 bn at a 99.05% premium for a Bao'an Central residential plot in Shenzhen, and a second batch of six commercial real estate REITs wins approval targeting over RMB 13 bn.
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GRA Market Weekly (2026-06-18)
PBOC Governor Pan Gongsheng announces a forthcoming action plan for offshore finance in Shanghai; the first four REITs index funds win approval, and Warburg Pincus launches a c. USD 1.25 bn tender offer for JSB, Japan's largest long-term rental apartment operator.
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GRA Market Weekly (2026-06-12)
MOHURD opens public consultation on the biggest overhaul of the Housing Provident Fund Regulations since 1999, expanding withdrawal uses from six to nine; Shenzhen land auctions run hot as Poly Property pays RMB 5.772 bn at a 150.74% premium for a Nanshan plot, setting a new citywide unit-price record.
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GRA Market Weekly (2026-06-05)
Shanghai launches new asset-management policies targeting RMB 55 tn in AUM by 2030; China Resources Land pays RMB 6.899 bn at reserve for two commercial plots in Beijing's Lize Business District, and Blackstone closes its third Asia PE fund at USD 13.1 bn.
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GRA Market Weekly (2026-05-29)
The State Council issues China's first five-year plan for urban renewal, with the market sized at RMB 15-20 tn over the plan period; land auctions run hot across Shanghai, Hangzhou and Suzhou, while an insurance consortium takes over Zhongguancun's Dinghao DH3 via a RMB 6.1 bn fund.
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GRA Market Weekly (2026-05-15)
Hunan releases its new "Ten Hunan Measures", upgrading provident fund and housing programmes across 38 measures in ten categories; Haier Industrial Development buys Tower S3 at Qiantan Hui in Shanghai en bloc for c. RMB 700 m at c. RMB 55,000/sqm; Japan's five largest property companies all post record revenue and net profit for the year to March 2026.
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GRA Market Weekly (2026-04-25)
Fifteen ministries jointly deploy youth-development city construction with 18 measures, including GFA and plot ratio support for youth-friendly projects; Shanghai's third residential land batch raises RMB 7.209 bn, with the Xuhui Changqiao plot clearing at a 25% premium; JD.com spends RMB 2.42 bn over two days on plots in Beijing Yizhuang and Hangzhou Qianjiang Century City.
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GRA Market Weekly (2026-04-11)
All five residential plots across two Hangzhou land auctions clear at a premium for RMB 7.354 bn, with a top premium of 59.67%; ByteDance spends nearly RMB 6.1 bn on two Beijing R&D plots in two months; Hong Kong secondary residential transactions hit 4,621 in March, a four-and-a-half-year high.
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GRA Market Weekly (2026-04-04)
Shanghai's first "home acquisition and swap" case lands in Jing'an; Poly Developments wins a core residential plot at Zhongshan Park in Changning for RMB 5.922 bn, the first pure residential site sold in the inner-ring core in almost 17 years; Shanghai second-hand online registrations topped 30,000 units in March, a five-year high.
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GRA Market Weekly (2026-03-28)
Six Hangzhou districts roll out c. RMB 300 m in home purchase subsidies while Chengdu lifts its maximum provident fund loan to RMB 1.2 m; 14 commercial real estate REITs have been filed for c. RMB 40 bn - half from Shanghai - and Guangzhou and Shenzhen luxury home sales above RMB 30 m more than double YoY.
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GRA Market Weekly (2026-03-21)
The NFRA calls for a financing regime suited to the new real estate development model as Shanghai cuts the minimum down payment on commercial-property loans to 30%; a PAG-led consortium completes the handover of Keqiao Wanda Plaza, advancing the RMB 50 bn 48-mall portfolio deal.
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GRA Market Weekly (2026-03-14)
The Ministry of Natural Resources rewrites land supply rules, barring new construction land from for-profit real estate development in principle; Shanghai's first land auction round of the year raises RMB 6.809 bn; CBRE projects 5%-10% growth in 2026 nationwide en-bloc transaction value.
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GRA Market Weekly (2026-03-07)
The Two Sessions set 2026 property policy as controlling increments, destocking and optimising supply, with provident fund reform named twice in the Government Work Report; an ESR-managed fund sells Shanghai's Xinmao Building for over RMB 1.62 bn; TOP100 developers' land spend in January-February totals RMB 95.04 bn, down 52.4% YoY.
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GRA Market Weekly (2026-02-28)
Shanghai issues its "seven measures" property package, cutting the social insurance requirement for non-residents buying inside the Outer Ring Road to one year and raising the first-home provident fund loan cap to RMB 2.4 m; Yuexiu wins the Racecourse plot in Guangzhou's Zhujiang New Town for RMB 23.6 bn, setting a new city record for unit land price.
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GRA Market Weekly (2026-02-15)
The draft Shanghai Metropolitan Area territorial spatial plan (2025-2035) goes on public display, covering 14 cities across three provinces; CapitaLand, Chongbang and Shounong Food Group file commercial real estate REITs in succession; average secondary home prices across 100 cities fell 0.85% MoM in January, while tier-1 average rents per unit rose structurally.
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GRA Market Weekly (2026-02-08)
The first eight commercial real estate REITs are accepted by the Shanghai Stock Exchange, raising c. RMB 31.475 bn in total; Shanghai's Pudong, Jing'an and Xuhui districts pilot the acquisition of secondary homes for subsidised rental housing; 20 key cities recorded 118,000 secondary home transactions in January, up 15.3% YoY.
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GRA Market Weekly (2026-02-01)
Three central ministries issue land-supply measures for elderly care built around lower land costs and activation of existing space; Hangzhou's first residential land auction of 2026 clears at a 19.81% premium; outstanding RMB property loans stood at RMB 51.95 tn at end-2025, down 1.6% YoY.
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GRA Market Weekly (2026-01-25)
PBOC and NFRA set a nationwide 30% minimum down payment floor for commercial-property loans; Shanghai and Suzhou unveil 15th Five-Year Plan proposals anchoring a new property development model; mainland public REITs reached RMB 210 bn in 2025, the largest market in Asia.
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GRA Market Weekly (2026-01-18)
MOHURD, MOF and STA extend individual income tax rebates for home-switching buyers through end-2027; PBOC cuts structural monetary policy tool rates by 25 bps and moves to lower the minimum down payment on commercial-property loans to 30%.
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GRA Market Weekly (2026-01-11)
The CSRC issues a notice on high-quality development of the REITs market and launches a commercial real estate REITs pilot, with the Shanghai and Shenzhen exchanges revising business rules in parallel; Qiushi publishes a commentary on improving and stabilising property market expectations; China Life Capital acquires 60% interests in two LaSalle long-term rental apartment projects in Shanghai for RMB 629 m.
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GRA Market Weekly (2026-01-04)
MOF and STA exempt individuals from VAT on sales of homes held for more than two years, effective 1 January 2026; Shanghai closes the year with five urban-village redevelopment plots sold by agreement for RMB 4.668 bn, while ChinaAMC Equity and CR Land launch China's first Pre-REITs fund set up by a mutual fund's private equity subsidiary.
2025
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GRA Market Weekly (2025-12-26)
The National Housing and Urban-Rural Development Work Conference sets out four priorities for 2026, while Beijing relaxes social-insurance requirements for non-resident buyers and unifies mortgage pricing; China Jinmao sells the Ritz-Carlton Sanya for RMB 2.265 bn, and KKR and PAG agree to acquire Sapporo Holdings' real estate at a JPY 477 bn enterprise value.
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GRA Market Weekly (2025-12-19)
MOHURD Minister Ni Hong lays out the roadmap for high-quality real estate development in People's Daily; a Nanjing Aonan plot sets a new record residential floor price of RMB 45,325/sqm; Brookfield buys eight Singapore logistics assets from ESR-REIT for SGD 338 m.
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GRA Market Weekly (2025-12-05)
NDRC's 2025 REITs sector list adds Grade A office towers and urban renewal facilities; Vanke pledges its Onewo stake against a RMB 22 bn Shenzhen Metro loan and moves to extend MTNs; Shenzhen Bay's Yunxi sets a national record with RMB 13 bn of launch-day sales.
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GRA Market Weekly (2025-11-28)
Vanke moves to extend a RMB 2 bn MTN while New World Development defers coupons on USD 3.4 bn of perpetuals; Shanghai's ninth land auction batch closes with RMB 17.33 bn in proceeds; KKR and Gaw Capital sell a Tokyo Hyatt hotel for over USD 800 m.
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GRA Market Weekly (2025-11-14)
PBoC's Q3 monetary policy report stresses foundational housing-finance mechanisms; Xiangyu Group buys Shanghai's Ciro's Plaza for RMB 2.1 bn and Link REIT bids AUD 1.5 bn for three Australian malls; October 70-city home prices fell both MoM and YoY.
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GRA Market Weekly (2025-11-07)
MOHURD Minister Ni Hong calls for reform of the housing development, financing and sales systems; Guangzhou mandates prefabricated construction on 100% of newly sold residential land from 2026; CapitaLand Investment and Mapletree explore a merger that would create a platform with over USD 150 bn of assets under management.
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GRA Market Weekly (2025-10-31)
The 15th Five-Year Plan recommendations set out multiple property priorities, including accelerating a new development model and revitalising underused land and idle properties; the PBoC plans a one-off personal credit relief measure in early 2026 alongside dynamic adjustment of mortgage down-payment ratios and rates; and Vanke secures another loan of up to RMB 2.2 bn from Shenzhen Metro while posting a Q3 net loss of RMB 16.069 bn.
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GRA Market Weekly (2025-10-24)
The communiqué of the Fourth Plenary Session of the 20th CPC Central Committee calls for high-quality development of the property sector; Shanghai's eighth land batch raises RMB 19.88 bn, with a new record accommodation value of RMB 148,500/sqm set on Xuhui Riverside; and September saw eight cities post YoY new-home price gains, with unsold inventory falling for a seventh straight month.
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GRA Market Weekly (2025-10-17)
MOHURD and eight other departments issue the 2025-2027 resilient-city action plan; CRIC data show 185 en-bloc property deals worth RMB 144.3 bn across 32 cities in the first eight months, up 36% YoY; September secondary-home prices across 100 cities fell 0.74% MoM and 7.38% YoY.
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GRA Market Weekly (2025-10-11)
MOHURD reports c. 5.0 bn sqm of new commodity homes sold and over 11 m subsidised and resettlement housing units delivered during the 14th Five-Year Plan; the Ministry of Natural Resources issues the first planning standard dedicated to revitalising existing urban space; and the first foreign-sponsored consumption REIT, the ChinaAMC CapitaLand Commercial REIT, lists.
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GRA Market Weekly (2025-09-26)
Over RMB 1.6 tn of funding was channelled to the "three major projects" including affordable housing during the 14th Five-Year Plan period, with "white list" project loans exceeding RMB 7 tn; Jinke Property's RMB 147 bn debt restructuring takes effect as the largest restructuring in the sector's history; en-bloc property transactions across 32 cities reached 185 deals worth RMB 144.3 bn in the first eight months, up 36% YoY.
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GRA Market Weekly (2025-09-19)
SAFE eases FX settlement for eligible foreign homebuyers and Shanghai refines its residential property tax pilot; CIFI wins bondholder approval for a c. RMB 10.06 bn onshore bond restructuring, while Vanke lands its largest-ever reorganisation.
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GRA Market Weekly (2025-09-12)
The State Council approves comprehensive reform pilots for market-based allocation of production factors in 10 areas; ChinaAMC CapitaLand Commercial REIT draws public subscriptions of more than 535x, a record for consumption REITs; Dongshu No. 3 acquires Chindata's China business for RMB 28 bn in cash, the largest M&A deal to date in the domestic IDC sector.
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GRA Market Weekly (2025-09-06)
The State Council General Office backs public REITs for sports venues and facilities; Shanghai's first land auction after the easing of purchase restrictions raises RMB 11.116 bn and stays hot; Dajia Investment Holdings and insurers launch an RMB 4.5 bn long-term rental housing fund, while more than 60% of the TOP 50 listed developers posted H1 losses amid widening divergence.
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GRA Market Weekly (2025-08-30)
The CPC Central Committee and the State Council issue opinions on promoting high-quality urban development, calling for faster construction of a new development model for real estate; Shanghai fully lifts purchase restrictions outside the Outer Ring Road while Suzhou scraps the two-year resale restriction on new homes; China Evergrande is formally delisted from HKEX, ending nearly 16 years as a listed company.
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GRA Market Weekly (2025-08-23)
The ninth plenary meeting of the State Council calls for forceful measures to consolidate the property market's return to stability; China's first collective-economy REITs is priced in Suzhou Industrial Park; KKR leads the bidding for Nissan's Yokohama global headquarters with a top offer of c. JPY 90 bn.
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GRA Market Weekly (2025-08-16)
New-home prices across all city tiers fell month-on-month in July while year-on-year declines narrowed overall; Beijing lifts the cap on the number of homes eligible buyers may purchase outside the Fifth Ring Road; a Bao'an residential plot in Shenzhen cleared at RMB 8.64 bn after 187 bidding rounds, a 34.81% premium; China Resources Land jointly secured a combined Shanghai plot for RMB 24.47 bn, a new national record for total land price.
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GRA Market Weekly (2025-08-09)
The PBOC calls for improved macro-prudential management of real estate finance and a new development model for the sector; China's first data centre public REITs surge by the 30% daily limit on debut; a Taikang Life-led insurance consortium moves to acquire ten of Ingka's Livat malls in a deal sized at RMB 16 bn.
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GRA Market Weekly (2025-08-01)
The July Politburo meeting stresses high-quality urban renewal and, for the first time, omits any direct mention of property-sector risk; Vanke draws its seventh Shenzhen Metro shareholder loan of the year, bringing the total to c. RMB 22.7 bn; Joy City Property proposes privatisation and delisting from HKEX.
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GRA Market Weekly (2025-07-26)
The State Council promulgates the Housing Leasing Regulation, effective 15 September; Shanghai's sixth-batch land auctions raise RMB 28.96 bn as the Hengfu plot in Xuhui sets a national record floor price of RMB 200,257/sqm; China Overseas commits RMB 11.9 bn in a single day for two prime plots in Jing'an and Putuo.
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GRA Market Weekly (2025-06-28)
SAFE proposes lifting the ban on using capital-account FX proceeds to buy non-self-use residential property, while six authorities back REITs for consumer infrastructure; Dajia Insurance commits c. RMB 3.4 bn to Shui On's Lingnan Tiandi as Longfor calls 2025 the final year of its journey through the debt cycle.
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GRA Market Weekly (2025-06-21)
The State Council calls for stronger action to halt the property market's decline as the NDRC allocates RMB 80 bn for urban renewal; Shanghai's fifth-batch land auction raises RMB 21.257 bn with a record East Bund floor price, while New World Development defers perpetual coupons totalling USD 77.2 m.
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GRA Market Weekly (2025-06-14)
Guangzhou moves to scrap all home purchase, resale and price restrictions; C&D acquires four Shanghai plots in Hongkou's North Bund and Yangpu for RMB 12.35 bn; Central Huijin takes control of eight securities, futures and fund firms under the big three AMCs as public REITs top RMB 200 bn in market value.
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GRA Market Weekly (2025-06-07)
Central government funding extends urban renewal to 20 cities including Beijing and Tianjin; Shanghai's Dong'an Xincun plots close at a combined RMB 52.3 bn, setting a new global land-price record; CSRC backs REIT issuance for new infrastructure and science parks.
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GRA Market Weekly (2025-05-31)
China's big six state banks cut deposit rates, taking the 1-year time deposit rate below 1% for the first time on record; a PAG-led consortium including Tencent and Sunshine Life agrees to acquire 48 Wanda Plazas in a deal reportedly worth RMB 50 bn; CapitaLand Investment launches its first onshore RMB master fund at RMB 5 bn.
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GRA Market Weekly (2025-05-24)
The PBoC delivers its first LPR cut of the year, trimming both tenors by 10 bps, and rolls over RMB 500 bn of MLF with a net injection; Shanghai Yi Hao Yuan tops RMB 10.87 bn in 2025 sales, the country's first RMB 10 bn project this year; New World Development seeks to complete an HKD 87.5 bn loan refinancing by end-June.
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GRA Market Weekly (2025-05-17)
The CPC Central Committee and State Council General Offices issued Opinions on Continuing to Advance Urban Renewal Action, setting out eight main tasks with significant progress targeted by 2030; Shanghai's Greentown Chaoming Dongfang sold out on launch day at an average price of c. RMB 195,000/sqm, taking RMB 6.988 bn in a single day; Hangzhou's first May auction saw all three plots sell at reserve price for RMB 2.574 bn.
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GRA Market Weekly (2025-05-10)
The State Council Information Office unveiled a package of financial policies to stabilise markets and expectations, with the PBoC cutting the reserve requirement ratio by 50 bps to release c. RMB 1 tn of long-term liquidity, lowering the 7-day reverse repo rate to 1.4% and cutting the over-5-year first-home provident fund rate to 2.6%; Shanghai's fourth land auction batch sold all four residential plots for c. RMB 9.7 bn.
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GRA Market Weekly (2025-05-05)
The national standard Residential Project Code took effect on 1 May, requiring floor-to-floor heights of at least 3 m and lifts in buildings of four storeys and above; Hangzhou's six residential plots fetched RMB 12.576 bn at an average premium of 22.4%; Shanghai's seven-plot Yuqingli package on Jinling Road in Huangpu was transferred by agreement for RMB 7.327 bn.
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GRA Market Weekly (2025-02-23)
Xi Jinping convenes a symposium with private enterprises; Guangdong leads the restart of land buybacks with RMB 35.37 bn across 15 cities as Beijing issues its first land-reserve special bonds; Shanghai's opening auction of the year clears all four plots at premiums for RMB 15.926 bn, with the Hongkou Ruihong plot setting a new total-price record.
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GRA Market Weekly (2025-02-16)
The State Council calls for better meeting housing consumption demand; land auctions run hot as a Beijing Chaoyang combined plot fetches RMB 8.7295 bn and a Zhengzhou plot clears at an 87.48% premium; China's three national AMCs move under Central Huijin, while Shenzhen Metro readies a RMB 2.8 bn shareholder loan for Vanke.
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GRA Market Weekly (2025-02-09)
CSRC backs REITs issuance for AI, data centres and other new infrastructure; Shenzhen SOE executives take full control of Vanke's management, with Shenzhen Metro chairman Xin Jie becoming board chairman; Gaw Capital and Patience Capital Group acquire Tokyu Plaza Ginza in Tokyo.
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GRA Market Weekly (2025-01-26)
Real estate "whitelist" project loans reach RMB 5.6 tn; a national work conference maps out urban renewal priorities; land auctions open the year hot, with a Hangzhou plot clearing at a 71.25% premium in an RMB 8.289 bn session.