Real estate curbs to dampen earnings prospects of firms

Leading Chinese real estate developers continued to reap rewards from the sustained housing demand in lower-tier cities during the first six months of the year, even as analysts warned of an earnings impact in the second half from policy tightening in more cities.

According to E-house, a Chinese property consultancy, during the first half of 2018, total sales of the nations' top 10 property developers, including Country Garden, Evergrande and Vanke, was around 2 trillion yuan ($301 billion), equivalent to daily sales of 10.8 billion yuan, or in other words a 28 percent growth on an annual basis.

Country Garden topped the list with total sales of 413.6 billion yuan during the period. The company's' major growth driver came from property sales in third- and fourth-tier cities.