China's agency overseeing big state-owned businesses has received plans from 78 state companies spelling out how they intend to sell out of the nation's heady property market, a Chinese newspaper said on Friday.
China National Petroleum Corp (CNPC) has announced it would withdraw from the profitable commercial real estate business, China Business News reported on Wednesday.
Pan Shiyi, president of SOHO China, said in a net chat on April 1 that the widespread Chinese property market crash schedule is unreliable, adding that a market crash is as unpredictable as an earthquake, Beijing News reported Friday.
Seventy-eight State-owned enterprises (SOEs) will withdraw from the real estate industry, the State-owned Assets Supervision and Administration Commission (SASAC) said in a press release on March 18, people.com.cn reported Thursday.
Jiangxi Zhong Jiang Real Estate Co, Ltd said its net profit of 2009 slumps more than 90 percent.
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