Real estate sees slower growth in earnings

The majority of property developers in China reported continuous but slowing profit growth in the first half of 2019. Industry experts said that this reflects that a stable development trend is emerging in the nation's real estate market.

The net profit of leading real estate company Country Garden increased 41 percent in the first six months to 23.06 billion yuan ($3.25 billion), compared with the same period of last year, according to its statement on Thursday, but the growth rate last year was more than 90 percent.

Another leading developer China Vanke Co Ltd saw its net profit grow 29.8 percent in the first half of this year, but it is trying to maintain steady development. In the same period, it acquired 54 new projects with a total planned gross floor area of 13.728 million square meters, down by 33 percent.