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Gloomy market weighs on developers

(Global Times)

08:33, April 17, 2012

According to statistics from the China Securities Regulatory Commission, 70 percent of the country's listed real estate companies are predicting a net loss in the first quarter of the year.

As of April 15, a total of 33 listed real estate firms have released their performance predictions for the first three months of 2012. Among these 33, 23 anticipated a business loss for the quarter, while only 6 predicted they would turn a profit.

As plummeting home prices continue to weigh on the real estate sector, several listed developers have begun setting aside emergency funds in case of further downturns, according to Homelink, a Beijing-based real estate agency.


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