Factbox-Chinese state-owned firms step in to rescue cash-strapped developers

HONG KONG (Reuters) - Chinese state-owned property firms are expected to acquire more assets from cash-strapped private developers, analysts said, as Beijing steps up efforts to stabilise and tighten control over a crisis-hit sector that accounts for a quarter of its economy.

Here are some of the sizeable assets sold to state-owned enterprises in the past two months:

Date Seller Asset Buyer Value

Jan 28 Shimao Hyatt on Shanghai Land 4.5 bln

Group the Bund, yuan

Shanghai ($707.5

Hotel mln)

Jan 28 Agile Group One land China 1 bln yuan

in Overseas

Zhejiang Grand Oceans

Province,

two land

in Jiangsu

Province

Jan 24, 21 Shimao, 26.7% China 1.8 bln

Agile stake each Overseas Land yuan each

in & Investment

Guangzhou

Asian

Games City

Jan 21 Shimao A Shanghai Shanghai 1.06 bln

commercial Jiushi yuan

land

Jan 20 Jiangsu Property China 2.3 bln

Zhongnan management Resources yuan

Constructio business Land

n

Jan 18 Sunac China 66% in a China Capital unknown

Wuhan land Land

bought for

7 bln yuan

in 2019

Jan 17 Sunac 35% in Wuhan Real unknown

Wuhan Estate Group

theme park

Jan 5 Yuzhou Property China 1.06 bln

Group management Resources yuan

business Land

Dec 31 Sunac 40% stake Huafa unknown

1.2 bln Industrial Co

yuan in a

Kunming

theme park

worth

Nov 29 Greenland 60% in Shanghai 3 billion

Holdings Shanghai Estate yuan

office (Group),

tower Shanghai

Chengdu

Investment

Sources: HKEX, company registry, CREIS

($1 = 6.3605 Chinese yuan renminbi)

(Reporting by Clare Jim; Editing by Sumeet Chatterjee)