China’s top real estate developers continue to shrink, according to industry data.
The number of mainland property developers achieving annual contracted sales of at least 100 billion yuan (US$14 billion) dropped to just 10 in 2025 from a peak of 43 in 2020, research firm China Real Estate Information Corporation (CRIC) said in a report on Sunday.
Among the top 10 developers, only one, China Jinmao Holdings, reported year-on-year growth in sales, according to CRIC.
Home prices in mainland China continued to decline at a rapid pace in December, posing challenges for an economy that is struggling to find new growth drivers.
New home prices fell 0.4 per cent month on month on average across 70 cities, according to data from the National Bureau of Statistics (NBS) on Monday. The fall matched November’s drop and was among the steepest in more than a year.
Prices slipped 3 per cent year on year in December, accelerating from a 2.8 per cent drop in November. Only six out of the 70 cities registered month-on-month gains, compared with eight in November.