VOLUNTARY ANNOUNCEMENT Result on the Listing Announcement of Land Use Right for H-02 Land Parcel in the Eastern Project of Baoshan District Reference

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

中國新城鎮發展有限公司

(Incorporated as a business company limited by shares under the laws of the British Virgin Islands)

Hong Kong Stock Code: 1278

Reference is made to the announcements of China New Town Development Company Limited (the "Company") dated 18 September 2017 and 1 November 2017 (the "Announcements") in relation to the Listing Announcement of Land Use Right for H-02 Land Parcel in the Eastern Project of Baoshan District. Capitalized terms used in this announcement shall have the same meanings as defined in the Announcements, unless the context requires otherwise. The Board of Directors of the Company hereby would like to update the result of the Listing of Land Use Right for H-02 Land Parcel.

The listing of land use right for H-02 Land Parcel was completed on November 23, 2017. According to public media release, Shanghai Yingpu Commerce Co., Ltd. ("上 海盈撲貿易有限公司") has acquired the land use right at the price of RMB 2,585.33 million. The Bureau of Land Plan and Administration in Shanghai("上海市規劃和管 理局") will release the official result notice shortly, the Company will make further announcement(s) should there be any further updates.

None of the directors of the Company has any direct or indirect interest in the listing of the above mentioned land.

By Order of the Board

Chief Executive Officer

Hong Kong, 23 November 2017

As at the date of this announcement, the executive directors of the Company are Mr. Liu Heqiang (Chief Executive Officer), Ms. Yang Meiyu, Mr. Ren Xiaowei and Mr. Shi Janson Bing; the non-executive directors of the Company are Mr. Wei Wei (Chairman), Mr. Zuo Kun (Vice Chairman), Mr. Li Yao Min (Vice Chairman) and Mr. Xie Zhen; and the independent non-executive directors of the Company are Mr. Henry Tan Song Kok, Mr. Kong Siu Chee, Mr. Zhang Hao and Mr. E Hock Yap.