Major Chinese real estate developer China Vanke Co., Ltd has announced that in the first half of this year it sold 21.501 million square meters of real estate space, up 5.6 percent, with a sales value of RMB 334.0 billion ($48.7 billion), rising by 9.6 percent, both year on year.
In June alone, it sold real estate space amounting to 4.893 million square meters, worth RMB 66.39 billion ($9.7 billion), rising by 8.7 percent and 1.0 percent year on year, respectively.
Yu Liang, president of Vanke, stated at the 2018 annual general meeting of shareholders held on June 28 that Vanke considers that the peak period for China’s real estate industry is already past and has entered a period of slower growth.