“We usually price our projects above the market,” Shao Yuqun, a Longfor spokeswoman in Beijing, said via e-mail. “Now the price is around the market level in the same neighborhood. This is our strategy.”
Shanghai Securities News reported that Longfor had cut prices on some projects in Shanghai and other cities. The stock plunged 12 percent at the midday break in Hong Kong trading, set for the record slump.
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