Ratings On China's Real Estate Developers Can Withstand Moderate Price Cuts, Says S&P Report Oct 10

Standard & Poors, October 2010

Abstract
HONG KONG (Standard & Poor's) Oct. 11, 2010--China's property developers may face further price cuts of up to 10% in major cities in the next 12 months. Despite the sector volatility and regulatory uncertainty, the developers appear to be in a healthier position to withstand such challenges compared with the downturn of 2008. That's according to a recently released industry report card by Standard & Poor's Ratings Services, titled "Chinese Real Estate Developers Are Wary As Correction Deepens." "The government's policy attempts to prevent sharp price rises and speculative activities, which muted demand, have coincided with an abundance in supply of new property for sale. As a result, we believe there is room for average selling prices to adjust downward...

Companies mentioned in this report are:
- China Overseas Land & Investment Ltd.
- Hopson Development Holdings Ltd.
- SRE Group Ltd.
- Agile Property Holdings Ltd.
- Greentown China Holdings Ltd.
- Shimao Property Holdings Ltd.
- Lai Fung Holdings Ltd.
- Shanghai Zendai Property Ltd.
- Shanghai Industrial Urban Development Group Ltd.
- Coastal Greenland Ltd.
- Country Garden Holdings Co. Ltd.
- Yanlord Land Group Ltd.
- Glorious Property Holdings Ltd.
- Kaisa Group Holdings Ltd.
- Renhe Commercial Holdings Co. Ltd.
- Fantasia Holdings Group Co. Ltd.
- Powerlong Real Estate Holdings Ltd.
- KWG Property Holding Ltd.
- Central China Real Estate Ltd.

Action: S&P Event

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- China Overseas Land & Investment Ltd.
- Hopson Development Holdings Ltd.
- SRE Group Ltd.
- Agile Property Holdings Ltd.
- Greentown China Holdings Ltd.
- Shimao Property Holdings Ltd.
- Lai Fung Holdings Ltd.
- Shanghai Zendai Property Ltd.
- Shanghai Industrial Urban Development Group Ltd.
- Coastal Greenland Ltd.
- Country Garden Holdings Co. Ltd.
- Yanlord Land Group Ltd.
- Glorious Property Holdings Ltd.
- Kaisa Group Holdings Ltd.
- Renhe Commercial Holdings Co. Ltd.
- Fantasia Holdings Group Co. Ltd.
- Powerlong Real Estate Holdings Ltd.
- KWG Property Holding Ltd.
- Central China Real Estate Ltd.

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