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Home Prices Slightly Higher Amid Row Over Car Recalls BUSINESS CHINA DAILY HONG KONG EDITION Wednesday, March 17, 2021 RIGHT TRACK Show sparks quality talk Home prices slightly higher amid row over car recalls Cooling measures By LI FUSHENG to play a bigger [email protected] 6.78 million International carmakers should role in stabilizing number of vehicles recalled by ensure the quality of both their carmakers in China last year, property market products and services in China, according to the State Adminis- which would prove crucial for their tration for Market Regulation By WANG YING in Shanghai development in the largest and [email protected] most competitive automotive mar- ket, experts said on Tuesday. models and dealerships. Ford suf- Home prices in major Chinese “They should at least have a cor- fered a sales decline in China for cities saw mild year-on-year growth rect attitude to problems when they around three years since 2016 but in February and experts expect the arise. It is obvious that people will its sales gradually rebounded in tightening measures to play a big- turn away from irresponsible 2020. ger role in cooling home prices and brands,” said Yale Zhang, managing Roy Lu, director of the Auto Gas- stabilizing the property market. director of Shanghai-based consult- goo Research Institute, said the Prices of new homes in the 70 cit- ing firm Automotive Foresight. exposure of Infiniti and Ford by Chi- ies tracked by the National Bureau Zhang’s remarks came after Chi- nese media including CCTV should of Statistics rose by 0.36 percent on na’s CCTV found that United States serve as a lesson to others, and it is a monthly basis in February, com- carmaker Ford and Japanese car- better to solve the problem before pared with the 0.28 percent gain in maker Nissan’s premium marque their image is tarnished. January. On a yearly basis, prices Infiniti had not only failed to repair “It is such a competitive market, grew by 4.06 percent last month. faulty transmissions in some mod- where you can find so many brands, Out of the 70 cities, 56 cities saw els, but even tried to cover up the and those who are not trustworthy price growth in February, three Workers carry out construction at a property project site in Nantong, Jiangsu province. issue. will lose their chance,” he said. more than in January. Two cities XU JINGBAI / FOR CHINA DAILY In a footage aired Monday night Chinese authorities are strength- reported no change, and 12 record- on CCTV, Infiniti dealerships admit- ening supervision and making it ed a decrease in prices. ted that the QX60 sport utility vehi- easier for customers to report faulty “Although home prices in various age point from that of the previous Compared with January, the top- recently, which effectively helped cle’s transmissions were products to protect their rights and Chinese cities performed quite dif- month, according to the NBS. tier cities saw a 1.1 percent gain in stabilize home prices. Home price problematic, but they coerced car interests. ferently on a monthly basis, all the First-tier cities outperformed existing home trading. Specifically, stability would remain as the focus owners to keep silent about the Statistics from the State Adminis- cities saw a mild growth in year-on- smaller cities in terms of new home Shanghai reported the largest of the residential market,” said Yan issue. In return, they extended the tration for Market Regulation year terms,” said Sheng Guoqing, price growth. Prices in the 31 second- month-on-month increase of 1.3 per- Yuejin, director of the Shanghai- vehicles’ warranty period, and gave showed that carmakers in China chief statistician with the NBS. tier cities monitored by the NBS rose cent in transaction prices among the based E-house China Research and an even lengthier warranty period made 199 recalls of 6.78 million Despite the lower base of last by 0.4 percent on a monthly basis, top four cities, followed by Beijing Development Institution. for the tougher customers. vehicles last year, which was 3.9 per- year, when the real estate sector in and by 4.5 percent on a yearly basis, with 1.2 percent, Guangzhou with 1 “In Shenzhen and Shanghai, new Some of Ford’s models, including cent more than 2019. Engines, the country was battered due to the while the figures were 0.3 percent percent, and Shenzhen with 0.9 per- tightening policies released recent- the EcoSport SUV, were found to brakes and transmissions were the novel coronavirus epidemic, the and 3.6 percent respectively for the cent. The four cities witnessed a 10.8 ly are expected to cool down the have ill-designed transmissions. major problem areas. industry is witnessing robust 35 third-tier cities. percent growth on a yearly basis in local home markets. We believe Though they have replaced the Lu called for more attention from demand due to the country’s faster- “With millions of people deciding existing home prices. that more cities will announce their transmissions in new models, they the authorities and customers to than-expected economic recovery. to stay put during the Spring Festival Used home prices in the 31 sec- own cooling measures as the con- failed to take good care of those who electric and smart vehicles, as their New home prices in the four top- holiday, the home market became ond-tier cities rose by 0.4 percent ventional warm-up season is own the faulty ones. numbers are growing as well. tier cities rose by 0.5 percent on a very active in major Chinese cities, from a month ago, and by 2.9 per- approaching,” said Zhang Dawei, Both Infiniti and Ford’s Chinese China has been the largest mar- monthly basis, with Guangzhou leading to price increases,” said Xu cent on a yearly basis. chief analyst at Centaline Property joint venture Changan Ford apolo- ket for electric cars and plug-in seeing the maximum gain of 0.9 Xiaole, chief market analyst with the The 35 third-tier cities saw their Agency Ltd. gized after CCTV aired the program. hybrids for six years in a row, with percent, followed by Beijing with Beike Research Institute. existing home prices rise by 0.2 per- This year may prove challenging Infiniti promised to extend the war- 5.5 million units expected to be on 0.7 percent, Shanghai at 0.5 percent, In the pre-owned home market, cent from the previous month, and for the real estate developers due ranty for all the customers con- the road by the end of 2022, accord- and Shenzhen at 0.1 percent. first-tier cities again took the lead an increase of 1.9 percent from the to the economic headwinds, and cerned, and Changan Ford said it ing to the China Association of Unlike a year ago, the four major in price gains. Fifty-five of the 70 same period a year ago. financial de-risking may become a would get transmissions repaired Automobile Manufacturers. cities saw a 4.8 percent growth in cities reported price growths, six “Quite a few cities have fine-tuned renewed focus, according to Savills free of charge. “I think the authorities should new home prices, up 0.6 percent- more than in January. their home purchase measures China research. China was one of the largest mar- also take into consideration vehi- kets for Infiniti, but its sales have cles that are more and more con- been shrinking in the past few years, trolled by batteries and software,” Pharma giants see room for greater tech innovation because of the smaller number of said Lu. By LIU ZHIHUA firmed that the country will pursue rural vitalization, he said. ceutical manufacturing site in [email protected] high-quality development as the Rogier Janssens, managing Nantong, Jiangsu province, has general aim, advancing supply-side director and general manager of become Merck’s second-largest China’s recently-concluded two structural reform as the main task, Merck’s healthcare business in Chi- pharmaceutical unit in the world. sessions have provided a new direc- and harnessing reform and innova- na, said the country’s pursuit of fur- In addition, the company is initi- tion to the development of foreign tion as the key source of momen- ther opening-up will inject more ating many research and develop- companies in the country, top exec- tum to meet the fundamental goal vitality into the healthcare market. ment clinical trials in China, utives of leading multinational of satisfying people’s growing The Germany-based company including on biliary tract cancer pharmaceutical companies said. needs for a better life,” said Jiang signed a strategic cooperation agree- and cervical cancer. It is also The executives said they are par- Wei, president of the China branch ment with State-owned Guangzhou working with multiple local part- ticularly buoyed by the nation’s of Bayer Group, a Germany-based Pharmaceutical Holding Ltd for ners, from internet giants, tech- sharpened focus on deeper reforms, company. cooperation in new business model nology startups to local wider opening-up, strengthened sci- “China has always been one of innovation, pipeline innovation and pharmaceutical distribution com- entific and technological innovation the most important markets for market expansion, with an eye on panies, to explore a new health- and the expansion of domestic Bayer, and the company will con- development in the Guangdong- care innovation ecosystem. demand. tinue to tap domestic market Hong Kong-Macao Greater Bay Area. Julio Gay-Ger, president and gen- According to the outline for the potential, give full play to its advan- The business environment in the eral manager of Lilly China, a unit 14th Five-Year Plan (2021-25) for tages in fields like healthcare and region continues to improve, and a of US-based pharmaceutical major economic and social development agriculture, and usher in a new series of government policies and Eli Lilly and Co, said multinational and long-range objectives through period of development.” initiatives are set to unleash the companies’ long-term development the year 2035, which was passed at Bayer is actively advancing its region’s potential for innovation, confidence in China has been rein- An employee works on a transmission production line of a Ford the fourth session of the 13th transition to new technologies backed by world-class infrastruc- forced, and his company is deter- venture in Chongqing.
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