China Vanke Says Demand to Withstand Curbs, Prevent Bubble
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China Vanke Co. said demand for its homes will withstand government efforts to cool speculation this year after it became the nation’s first real estate company to surpass 100 billion yuan ($15 billion) in annual sales.
“Our customers are mainly those who buy and live in their homes,” President Yu Liang said in a statement late yesterday after Shenzhen-based Vanke reported a 37 percent gain in 2010 profit that exceeded analysts’ estimates. “Speculators faded after government curbs.”