Analysis of the Effectiveness of China Jinmao's 2025 Strategic Adjustments

According to the 2025 Real Estate Enterprise Sales Ranking released by the China Index Academy, China Jinmao ranked among the top 10 with sales exceeding 100 billion yuan,

[1][2]. Against the backdrop of the current real estate market continuing to bottom out, this achievement is particularly rare.

Rank	Enterprise Name	Sales (100 million yuan)
1	Poly Development	2,530
2	Greentown China	2,519
3	China Overseas Land & Investment	2,512
4	China Resources Land	2,336
5-8	China Merchants Shekou, Vanke, C&D Real Estate, China Jinmao	1,000+
9-10	Yuexiu Real Estate, Binjiang Group	1,000+

The real estate market as a whole continued to bottom out in 2025, according to data from the National Bureau of Statistics:

• New commercial housing sales area from January to November
  decreased by 7.8% year-on-year
• National real estate development investment from January to November
  decreased by 15.9% year-on-year
• There were 11 100-billion-yuan real estate enterprises in 2024, which decreased to 10 in 2025

Against this backdrop, China Jinmao achieved countercyclical growth,

[2].

According to data from CRIC Real Estate,

, significantly higher than the 15.2% of private real estate enterprises. As a central enterprise developer, China Jinmao has obvious advantages in financing channels, corporate governance, and risk management[2].

Liu Shui, Research Director of the China Index Academy, pointed out that the common characteristics of 100-billion-yuan enterprises include:

• Strong operation and development capabilities
• Financing advantages
• Sound and stable corporate governance
• Adhere to development strategies that follow the trend
• Seize improvement demand in core cities[1]

Under the pressure on the industry as a whole, China Jinmao was able to maintain its sales scale and achieve growth, demonstrating

[2]. This is mainly due to:

• Sound financial strategy
  : Against the backdrop of liquidity pressure on most real estate enterprises, capital tends to invest in more stable state-owned central enterprises and large-scale real estate enterprises
• Product strength improvement
  : Actively strengthen internal capabilities to meet the improvement needs of homebuyers
• Diversified layout
  : Diversify risks through business models such as urban operation

China Jinmao’s sales increased by 15.52% in 2025, achieving countercyclical growth in the overall downturn of the real estate market,

:

1. Differentiated advantages
   : As a central enterprise, it has obvious advantages in financing and credit
2. Precise layout
   : Focus on improvement demand in core cities
3. Sound operation
   : Sound corporate governance and effective risk management

This achievement indicates that China Jinmao’s strategic adjustment direction is correct, and it successfully seized the market opportunities in core cities during the industry adjustment period, achieving countercyclical growth in sales performance.

---

[1] Securities Times - “Institution: There are 10 100-billion-yuan sales real estate enterprises in 2025, and Poly Development retains the top spot” (https://www.stcn.com/article/detail/3566956.html)

[2] Caifuhao/East Money - “CRIC Real Estate: The real estate market continued to bottom out in 2025, with 10 real estate enterprises exceeding 100 billion yuan in sales scale” (https://caifuhao.eastmoney.com/news/20260102145556025117750)