Leading real estate developer sees income, profit growth in first half

China Vanke, a leading real estate developer, remains confident in the market recovery trend despite recent mortgage payment concerns as the company reported year-on-year growth in both income and profit in the first half.

Its interim results show that in the first six months, operating income reached 206.92 billion yuan ($30 billion), a year-on-year increase of 23.8 percent, and profit surged more than 10 percent to 12.22 billion yuan. It is a hard-won increase as its net profit declined by almost half last year.

On the heels of the interim report, the stock of Vanke increased 4.66 percent to close at 16.63 yuan on the A-share market on Wednesday.