China Vanke April property sales up 22 pct yr/yr

SHANGHAI, May 7 (Reuters) - China Vanke Co 000002.SZ, the country's biggest listed property developer, said on Thursday its April property sales rose 22 percent from a year earlier to 5.27 billion yuan ($772.5 million).

The sales figure was down 14 percent from March, however, while the volume of space sold during the month, at 595,000 square metres, rose 23.7 percent from a year earlier but was down 18 percent from the previous month.

For the first four months, the developer's 200002.SZ sales were up 21.4 percent year-on-year at 17.49 billion yuan, while the volume of space sold rose 30.4 percent to 2.12 million square metres.

Vanke reported a 7.1 percent profit rise in the first quarter over the same period a year earlier, crediting government policies for restoring market confidence. [ID:nPEK342870]

Vanke Chairman Wang Shi said last month that the company was aiming to double its market share over the next decade, betting China’s housing market would pick up steam after a slump in 2008. [ID:nTP44179] ($1=6.822 Yuan) (Reporting by Alfred Cang and Edmund Klamann)