On September 3, Country Garden Group held a monthly management meeting. Chairman Yang Huiyan analyzed the historic changes and impact of the basic real estate system under the “828 New Deal”. Yang Huiyan said that the core changes in the “828 New Deal” are: the shift from pre-sale system to existing housing sales, from fast turnover to focus on quality, and the shift from business entity credit to project credit. In the past, the style of play that relied on fast turnover and high leverage is no longer applicable, and the business logic of the industry has been completely rewritten. Short-term pain is inevitable, but the medium to long term is an important opportunity for the industry to mature and stabilize. Yang Hye-yeon proposed at the conference that under the new real estate situation and policy, the group must comprehensively review and reshape the overall management, development logic and organizational structure as soon as possible to ensure that it has the ability to respond quickly in the new policy environment. Cheng Guangyu, president of Country Garden Group, said that in the long run, the new policy will accelerate risk clearance and drive the market towards healthier and more sustainable development; all regions must carry out comprehensive asset inventory and strategy formulation, and the group level will also adjust management boundaries simultaneously.

On September 3, Country Garden Group held a monthly management meeting. Chairman Yang Huiyan analyzed the historic changes and impact of the basic real estate system under the “828 New Deal”. Yang Huiyan said that the core changes in the “828 New Deal” are: the shift from pre-sale system to existing housing sales, from fast turnover to focus on quality, and the shift from business entity credit to project credit. In the past, the style of play that relied on fast turnover and high leverage is no longer applicable, and the business logic of the industry has been completely rewritten. Short-term pain is inevitable, but the medium to long term is an important opportunity for the industry to mature and stabilize. Yang Hye-yeon proposed at the conference that under the new real estate situation and policy, the group must comprehensively review and reshape the overall management, development logic and organizational structure as soon as possible to ensure that it has the ability to respond quickly in the new policy environment. Cheng Guangyu, president of Country Garden Group, said that in the long run, the new policy will accelerate risk clearance and drive the market towards healthier and more sustainable development; all regions must carry out comprehensive asset inventory and strategy formulation, and the group level will also adjust management boundaries simultaneously.