About CSCIs Affordable Housing Business in PRC

2014.11.25


(25 November 2014) China State Construction International Holdings Limited (“CSCI” or “The Group”, Stock Code: 03311) recently received enquiries from investors on media reports about “MoHURD is about to issue policies on repurchasing commercial housing as affordable housing” and its impact on CSCI’s affordable housing business.  

CSCI hereby states:  

Based on the Group’s understanding from related ministry, there have existed the measure that local governments repurchasing commercial housing as affordable housing for past a few years already. However, it is a very insignificant volume and does not impact on national affordable housing construction plan at all. Recently, during the routine meeting of State Council, Premier Li Keqiang required to promote consumption in 6 key areas including stabilizing housing consumption and enhancing affordable housing construction. The Group understands that related ministry is formulating the affordable housing construction plan for the next year and the volume is still estimated to be considerably large.

CSCI currently has a satisfied progress of affordable housing investment and construction business in the PRC and is fully confident to achieve all the growth targets. The Group believes the individual case of certain local government repurchasing commercial housing as affordable housing has neither impact on national affordable housing plan, nor CSCI’s business in PRC.   

Thanks for your attention.