Lianhe Global examines a number of factors when analyzing the credit of Chinese property developers. In this commentary, we would like to highlight some of the key qualitative credit attributes of Chinese investment grade (“IG”) property developers, using CIFI Holdings (Group) Co. Ltd. (“CIFI”, “BBB-/Stable”) and Logan Group Company Limited (“Logan”, “BBB-/Stable”) as examples. In general, Lianhe Global looks at consistency and predictability of operational and financial performance, as well as contracted sales growth and revenue delivery capabilities, of our rated entities under adverse conditions such as the COVID-19 outbreak.