HONG KONG Aug 17 Property developer China Vanke
Co's first-half net profit rose 5.6 percent, boosted
by record sales and aggressive marketing amid an industry
downturn, the company said on Sunday.
China's largest residential developer announced that net
profit for the January to June period was 4.81 billion yuan
($783 million), against 4.56 billion yuan a year earlier.
"Market volatility may increase in the short run," Vanke
said in a statement, adding that it aims to enhance inventory
clearing and company cashflow.
Shares in Vanke closed up 0.4 percent in Hong Kong
on Friday, against a 0.6 percent gain for the broader market
(1 US dollar = 6.1470 Chinese yuan)
(Reporting by Clare Jim; Editing by Miral Fahmy and David