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CHINA VANKE CO., LTD.

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China Vanke : Chinese property executives ask regulators for 'appropriate loosening' of restrictions - report

10/16/2021 | 06:18am EST
A man rides a scooter past apartment highrises that are under construction near the new stadium in Zhengzhou

SHANGHAI (Reuters) - Representatives from 10 Chinese property companies met government regulators to ask for an "appropriate loosening" on policy restrictions, financial news outlet Yicai reported late on Friday.

In the meeting, senior executives urged authorities to loosen regulations with the goals of stabilizing market expectations, providing support for genuine home buyers rather than speculators and making adjustments in land prices, Yicai reported, citing unnamed people in attendance.

The meeting was attended by senior executives from developers including China Vanke Co Ltd and Sunac Holdings, along with the Director of the Real Estate Department of the Ministry of Housing and Urban-Rural Development and the Director of the China Real Estate Association (CREA), Yicai reported.

A number of Chinese property firms are facing a liquidity crunch amid weak demand and tightening regulations. Property firms have been affected by loan caps imposed by the government in order to contain rampant borrowing.

The potential collapse of highly indebted real estate firms such as China Evergrande Group has rattled markets and raised concerns about systemic risks to the broader economy.

(Reporting by Josh Horwitz and Luoyan Liu; Editing by Alex Richardson)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA VANKE CO., LTD. -1.08% 18.26 End-of-day quote.-36.38%
SUNAC CHINA HOLDINGS LIMITED 0.00% 14.04 End-of-day quote.-50.99%
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Analyst Recommendations on CHINA VANKE CO., LTD.
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Financials
Sales 2021 475 B 74 510 M 74 510 M
Net income 2021 39 115 M 6 138 M 6 138 M
Net Debt 2021 75 473 M 11 843 M 11 843 M
P/E ratio 2021 5,49x
Yield 2021 6,06%
Capitalization 208 B 32 530 M 32 604 M
EV / Sales 2021 0,60x
EV / Sales 2022 0,48x
Nbr of Employees 140 565
Free-Float 65,9%
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Mean consensus BUY
Number of Analysts 22
Last Close Price 18,46 CNY
Average target price 25,03 CNY
Spread / Average Target 35,6%
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Managers and Directors
Jiu Sheng Zhu President, CEO & Executive Director
Hui Hua Han Executive Vice President & Head-Finance
Liang Yu Chairman
Dong Xie Chairman-Supervisory Board
Xiao Liu Chief Operating Officer & Executive Vice President
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