Yu Liang, president of China Vanke Co Ltd, China's top property developer, attends a news conference announcing the company's annual results in Hong Kong March 6, 2014.
China Vanke Co Ltd on Thursday posted a 20.5 percent rise in net profit for 2013, in line with estimates, driven by record contracted sales last year.
Yu Liang told investors last week that the property market in the world’s second-largest economy was “oversold”.
The chair of $22 billion China Vanke (000002.SZ) is worth listening to.
On the same day, the company reported a 19% decline in net profit to 9.9 billion yuan ($1.35 billion) for the six months to the end of June.
Persons:
Yu Liang, Bobby Yip, ”, Vanke, homebuyers, Xi Jinping, Xi, Una Galani, Thomas Shum
Organizations:
China Vanke Co, REUTERS, Reuters, China, Mainland, HK, Securities Times, Shenzhen Metro Group, Thomson
Locations:
China, Hong Kong, HONG KONG, Shenzhen, Evergrande’s