- CNTV English - CCTV News

Homepage > News > Biz >

China Vanke sales surge in March

04-06-2012 17:03 BJT

SHENZHEN, April 6 (Xinhua) -- China Vanke, the country's biggest property developer by market value, said Friday its sales soared in March as the property market began to warm up.

In a statement filed to the Shenzhen Stock Exchange, China Vanke said it sold 1.1 million square meters of floor area last month, up 52.6% month-on-month and 31.6% year-on-year.

Meanwhile, its sales revenue soared 56.9% month-on-month and 23.5 from the previous year to 11.5 billion yuan (1.8 billion U.S. dollars).

Tan Huajie, China Vanke's board secretary, attributed the sales surge to a low comparison base and easier access to mortgages.

Chinese banks usually have a higher mortgage quota at the beginning of the year. Also they are offering mortgage-rate discounts to woo potential borrowers this year.

The country's developers have recently reported gloomy sales due to tough government curbs, including purchase restrictions, higher lending rates and a ban on mortgage loans for third homes.

In the first quarter of the year, China Vanke sold 3 million square meters in floor area, down 0.95% year-on-year. Its sales revenue fell 12.5% year-on-year to 31.1 billion yuan after the prices on average declined 11.7% to 10,326 yuan per square meter.

China Vanke will roll out more smaller homes and sales promotions to achieve good sales in a tough year, Tan said. The government has repeatedly pledged to continue its controls on the housing market this year to bring down property prices to a reasonable level.

Shares of China Vanke closed 0.24% higher at 8.38 yuan on Friday.

Editor:Wang Lingfei |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program