China State Construction 1st-Half New Construction Contracts Up 52.5%

China State Construction Engineering Corp. (601668.SH) said Wednesday the value of its new construction engineering contracts rose 52.5% in the first half from a year earlier to CNY283.2 billion (US$41.8 billion).

The homebuilder said in a statement its property sales in the January-June period rose 7.5% to CNY26.9 billion.

However, in terms of floor space, the company's first-half property sales totaled 2.63 million square meters, down 15.1% from a year earlier. The company didn't provide year-earlier figures in its statement.

In mid-April, the central government moved to restrict speculation in the housing market by requiring higher down payments and mortgage rates for home buyers.

Real-estate agencies and private research firms generally reported significant drops in sales in May and June, with many consumers waiting to see how the government's measures play out before making a purchase.