Cosco withdraws from Sino-ocean real estate within six months

COSCO Group President Jiafu said yesterday that Cosco Group two subsidiaries Cosco Hong Kong group within six months, withdrew the indirect holdings of about 8% of ocean property rights.　　This is in SASAC issued "repaying order" after the first clear to give out the timetable of the central enterprises. March 15, Ocean Real estate subordinate enterprises to 4.08 billion of the total price of the grand Wangjing 1th, the floor price of more than 27,500 yuan per square meter. March 18, SASAC requested that 78 of the central enterprises not based on real estate industry, in the completion of their own land development and implementation of projects, such as the phased work, exit the real estate business, and identified 16 main industries for real estate.　　Cosco Group is not in the list of 16. Cosco Group is known for its main business in shipping and logistics. Cosco Group's three-level subsidiaries Cosco International holds a 16.85% stake in ocean-going property. Cosco Hong Kong Group has a 51% per cent stake in Cosco International.　　According to the calculation, COSCO group indirectly holds about 8% of the shares of ocean-going property. Industry insiders pointed out that, such as Cosco in the way of equity transfer, it may become the future "central enterprises exit" the main mode. However, a number of industry insiders on the exit of the real estate industry are cautious attitude. A company engaged in real estate development for many years, the general manager of the reporter said: "In the central enterprise exit the real estate process, there are two issues worth noting." One, the central enterprises withdrew, the transfer of equity to WHO, will attract ' more money ' investors, such as the current possibility of entering the real estate industry insurance, ' Richer investors, though not central enterprises, but a strong financial background may be more crazy than the central enterprises to take the land; second, the central enterprises after the withdrawal of equity, to prevent the countless links continue to exist, like a family, although the son to fend for themselves, but the relationship here, or to avoid suspicion, for example, The central enterprises should be regulated to provide guarantee for these companies ' financing. The general manager also stressed that, in any case, the state-owned enterprises to withdraw from real estate shows the government's concern for high land prices, to curb the land price to promote the further climb.