Hong Kong-listed Chinese real estate stocks have seen widespread declines, with Agile Group's shares falling close to 9%, and Shimao Group, Sunac China, R&F Properties, and other companies reporting drops exceeding 5%. National Bureau of Statistics data reveals that nationwide investment in real estate development plummeted 11.2% year-on-year in the first half of 2025, with residential investment下滑 10.4%. Notably, the year-over-year decline in new commercial residential property prices in first-tier cities narrowed in June, with the Shanghai market experiencing a notable increase of 6.0%. In light of these developments, the Deputy Director of the National Bureau of Statistics commented that the real estate market is still undergoing a period of stabilization and transformation, emphasizing the need for intensified efforts to stabilize the market and halt further declines.