. SHANGHAI, Jan 11 (Reuters) - China State Construction Engineering Corp (CSCEC) said the value of new construction contracts signed in 2009 rose 42 percent from a year earlier to 412.3 billion yuan ($60.39 billion).
CSCEC, China's largest home builder, said in a statement on Monday to the Shanghai Stock Exchange that sales for its real estate business reached 46.9 billion yuan in 2009, up 77 percent over the previous year.
Domestic media reported last October that CSCEC's full-year net profit is expected to rise at least 70 percent from a year earlier.
China's property market picked up last year, bolstered by Beijing's 4 trillion yuan stimulus programme and a surge in bank lending as China moved aggressively to prop up economic growth while the financial crisis battered the global economy.
(Reporting by Melanie Lee; Editing by Ken Wills)
($1=6.827 Yuan)
((melanie.lee@thomsonreuters.com; +86 21 6104 1778; Reuters Messaging: melanie.lee.reuters.com@reuters.net)) Keywords: CHINACONSTRUCTION/SALES (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
CSCEC, China's largest home builder, said in a statement on Monday to the Shanghai Stock Exchange that sales for its real estate business reached 46.9 billion yuan in 2009, up 77 percent over the previous year.
Domestic media reported last October that CSCEC's full-year net profit is expected to rise at least 70 percent from a year earlier.
China's property market picked up last year, bolstered by Beijing's 4 trillion yuan stimulus programme and a surge in bank lending as China moved aggressively to prop up economic growth while the financial crisis battered the global economy.
(Reporting by Melanie Lee; Editing by Ken Wills)
($1=6.827 Yuan)
((melanie.lee@thomsonreuters.com; +86 21 6104 1778; Reuters Messaging: melanie.lee.reuters.com@reuters.net)) Keywords: CHINACONSTRUCTION/SALES (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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