China Vanke reports surging sales in July

BEIJING - Real estate developer China Vanke reported rising sales in July, according to a company statement filed to the Shenzhen Stock Exchange Monday.

The company posted a 26.9 percent year-on-year increase of property sales on contracts, which reached 45.14 billion yuan ($6.6 billion) in July.

Sales in terms of area stood at 3.07 million square meters last month, the statement said.

In the January-July period, the company sold 23.42 million square meters of real estate on contracts. The value of sales rose 11.85 percent year-on-year to 349.8 billion yuan ($51.3 billion).

Real estate sales in China rose 13.2 percent year-on-year to 6.7 trillion yuan in the first half of this year, with the growth accelerating by 1.4 percentage points from the first five months, according to the National Bureau of Statistics.