China Vanke sales drop in May on property tightening moves
(Xinhua)
2010-06-07 09
BEIJING - China Vanke Co, the country's largest property developer by market value, announced on Sunday that its sales revenue in May decreased 20.2 percent from a year earlier amid the government's tightening moves.
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A-shares of the firm gained 1.25 percent to 7.28 yuan per share on Friday.
Chinese central and local governments have introduced a string of measures to cool the housing market in recent months, as the country's property prices have rapidly climbed since April 2009.