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China Real Estate Index System, another industrial information provider, also released a similar report, which revealed that the companies with revenue ranging from 10 billion to 100 billion yuan have been more rational in land purchases and have gradually switched their focus from first and second-tier cities to smaller ones.

China and Germany have great cooperation potential in the forefront of digital technologies, as China has become one of the biggest players in digital innovation, an industry insider said.

China Huarong admitted that it had adopted a relatively aggressive business model in recent years, which led to much higher growth than the industry average, but the business model became difficult to sustain.

China and Germany, as countries with significant influence, both bear compelling obligations on world economic development and financial governance. The two countries shall promote China-EU interconnection platform, by linking the Belt and Road Initiative with the EU-Asia Connectivity Strategy and the European Infrastructure Plans. In 2019, the major financial institutions from China and Germany maintained close communication on the BRI and the third-market cooperation, contributing to the development of both economies, as well as the third-party countries participating in the BRI.

China Chengtong has conducted three asset restructurings for China Logistics Co Ltd, one of its subsidiaries over the past five years. It has introduced capital from Sichuan Communications Investment Group Co Ltd, Luzhou Laojiao Co Ltd and Wuhan State-Owned Assets Management Ltd Co, according to Li.