China's property sector is increasingly dominated by state-owned enterprises (SOEs) as private developers face financial challenges. Notably, China Vanke, one of the nation's largest developers, has projected a record net loss of $6.2 billion for 2024 and experienced a significant management reshuffle, with state-owned Shenzhen Metro assuming control.
This shift reflects a broader trend: the market share of state-owned developers has risen from 32% in 2019 to 70% in 2024, with local government-linked firms accounting for the majority of land purchases.
The government's intervention aims to stabilize the housing market, focusing on completing presold homes rather than bailing out developers. However, challenges persist, including high inventories and declining sales, indicating a need for continued policy suppo
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