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BEIJING, April 25 (Xinhua) -- Chinese property developers enjoyed a bumper year in 2016 due to strong sales and easing monetary policies, and a strong start this year continued to bode well for the industry despite rising uncertainties.
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Their combined profits were 88.33 billion yuan, a jump of 28.9 percent from the previous year that brought the sector's net profit margin to 9.73 percent from 9.69 percent in 2015.
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China's property sales recorded strong growth in 2016 with an annual gain of 22.5 percent, thanks to two years of policy easing, starting with relaxation of purchasing restrictions in 2014.
The report also noted the trend of divergence among property developers, with the stronger ones showing faster profit growth and more resilience than less competent players.
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Since October last year, the Chinese government has implemented a slew of measures to cool runaway housing prices, including restrictions on home purchases and increased minimum down-payment requirements.
Dozens of Chinese cities have implemented tougher cooling measures to limit price gains since mid-March, following Beijing's unprecedentedly strict curbs that lifted the downpayment ratio for second homes to 60 percent.
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