Cai Jing Wang·2025-06-20 08:27Company - China Communications Construction Company plans to divest its real estate development business by transferring related assets and liabilities to its controlling shareholder for a nominal price of 1 yuan [1] - China Resources Land has secured a term loan of 5.85 billion yuan, which is set for a three-year period, from specific banks and financial institutions [1] Market - In May, the sales prices of new residential properties in first-tier cities decreased by 0.2% month-on-month, while second-tier cities also saw a 0.2% decline. Third-tier cities experienced a 0.3% drop, with the decline in prices widening by 0.1 percentage points compared to the previous month [2] - The year’s fifth batch of land auctions in Shanghai generated approximately 19.1 billion yuan from the sale of residential land, with Poly Developments acquiring a plot in Yangpu District for 3.5 billion yuan, marking a floor price of 95,500 yuan per square meter and a premium rate of 30.79% [2] Policy - The Ministry of Natural Resources has included 24,000 parcels of idle real estate land in a "one land, one policy" disposal list, aiming to address issues related to the utilization, transfer, and recovery of idle land through 18 policy measures [2]