Bloomberg News

China Developers’ Cash Flows May Fall Below 2008 Lows, CEBM Says

February 02, 2012

Feb. 2 (Bloomberg) -- Cash flows of China’s listed property companies may drop below 2008 lows, when home sales fell for the first time since people were allowed to own houses, according to CEBM Group Ltd., a Shanghai-based investment advisory firm.

The cash crunch will intensify this quarter, as home sales fall and many loans taken out in 2009 mature, CEBM said in a report on Jan. 18. The research provider surveyed 131 developers listed in China.

House values fell for a fifth month in January, according to SouFun Holdings Ltd., as Premier Wen Jiabao reiterated that the government will maintain curbs to bring prices down. The 0.18 percent monthly decline marks the longest losing streak since the nation’s biggest real-estate website owner started tracking the data, it said yesterday.

--Henry Sanderson and Bonnie Cao. Editors: Andrew Monahan, Beth Thomas

To contact Bloomberg News staff for this story: Henry Sanderson in Beijing at; Bonnie Cao in Shanghai at

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To contact the editor responsible for this story: Shelley Smith at -0- Feb/02/2012 02:31 GMT

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