China property market sees massive reshuffle

Fierce competition, underhanded tactics. It's happening now in China's property market.

Figures show that Chinese property tycoon, Vanke, acquires one property company every ten days. Most of those swallowed are project companies.

In Urmuqi, Dalian and Beijing, Vanke spent 1.4 billion yuan in October on three project companies there.

In Beijing, in November 18th, 5.2 billion yuan for two projects. 8 days later, another company in Vanke's pocket.

But in this game, sometimes the little fish win too.

Cinda Properties has earned more than 290 million yuan for transferring 8 of its property projects to developers, improving their cash flow.

As the competition gets fiercer, the central government closes funding channels and tightens monetary measures. More and more real estate companies are starting to feel the pinch.

Analysts warn it's now time for real estate companies, large or small, to consider their tactics and find a way to survive in this market.

Source: CNTV.cn