CSCEC sales up 71.5% in first two months
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China State Construction Engineering Corp. (CSCEC), the largest contractor in China, said Wednesday that house sales revenue totaled 6.5 billion yuan (953 million U.S. dollars) in January and February, up 71.5 percent from the first two months last year.
In a statement to the Shanghai Stock Exchange, the company said it sold 610,000 square meters of floor space, a 35.9 percent rise.
The value of the company's new construction contracts in the first two months surged 85.3 percent year on year to 55.8 billion yuan, while the total new construction area jumped 193.9 percent to 13.92 million square meters of floor space.
The company did not explain the sales surge in the statement.
Shares of the CSCEC declined 0.92 percent to 4.29 yuan per share by midday.
