China State Construction sees mixed performance in Jan-Oct 2025

China State Construction Engineering Corp. (CSCEC) reported a 1.0% increase in total new contract value to RMB 36,065 bn for January-October 2025. The core construction business saw new contract value rise by 2.0% to RMB 33,194 bn. Within construction, housing construction increased by 1.5% to RMB 21,991 bn, and infrastructure grew by 3.1% to RMB 11,103 bn. However, surveying and design contracts declined by 10.4% to RMB 100 bn. Domestic contracts improved by 1.9% to RMB 31,502 bn, while overseas contracts rose by 3.2% to RMB 1,691 bn.

Physical volume indicators for the construction segment showed a 2.7% decrease in housing construction area under construction, totaling 158,811 ten thousand square meters. New housing construction starts also fell by 14.7% to 21,178 ten thousand square meters, while completed housing construction increased by 8.9% to 15,820 ten thousand square meters.

The property business experienced a downturn, with contract sales decreasing by 9.5% to RMB 2,871 bn and contract sales area declining by 4.8% to 1,070 ten thousand square meters. As of the end of the period, land reserves stood at 7,482 ten thousand square meters, with new land acquisitions totaling 732 ten thousand square meters.