Property News · August 25, 2020

Country Garden, Shimao among Chinese home builders betting on new sectors to boost profits amid struggling property market


China’s major home builders are betting on new areas of business to shore up profit after the boom era of the 16 trillion yuan (US$2.3 trillion) housing market was brought to a halt by the Covid-19 pandemic crushing the economy and the government’s persistent cooling measures.Country Garden Holdings, the country’s second biggest developer by sales, has been heavily investing in robotics and hopes this sector will buoy future growth.“We are hoping that robotics can increase our productivity and…

Source : South China Morning Post
Read more…Country Garden, Shimao among Chinese home builders betting on new sectors to boost profits amid struggling property market