China State Construction sees mixed 9-month results with new contracts up 1.4%

For the period of January to September 2025, China State Construction reported total new contract value of RMB 32,936, a modest 1.4% increase year-on-year. The construction business segment contributed RMB 30,383 in new contracts, growing 1.7%. Within this, infrastructure saw a 3.9% rise to RMB 10,144, while housing construction increased 0.7% to RMB 20,146. Surveying and design contracts experienced a 7.4% decline, reaching RMB 92. Regionally, domestic new contracts increased 2.0% to RMB 28,868, whereas overseas contracts saw a 4.4% decrease to RMB 1,515.

In terms of physical quantities, housing construction area under development decreased 1.5% to 157,051 thousand square meters, and new housing starts fell 7.9% to 19,454 thousand square meters. Housing construction completions rose 5.6% to 14,191 thousand square meters.

The property development segment reported a 2.0% decrease in contract sales to RMB 2,553, though contract sales area increased 0.7% to 952 thousand square meters. The company's land reserves stood at 7,497 thousand square meters, with new land acquisitions totaling 695 thousand square meters.