CSCEC Jan. & Feb. New Orders Up 85 Percent

China State Construction Engineering (CSCEC) (601668) won new construction contracts totaling 55.8 billion yuan in January and February, an increase of 85.3 percent year-on-year, reports p5w.net, citing a company filing.

In January and February, construction area rose 35 percent year-on-year to 217.99 million square meters. In the same period, construction was started on 13.92 million square meters of land, a surge of 193.9 percent year-on-year.

Real estate transaction value and area rose 71.5 percent and 35.9 percent year-on-year to 6.5 billion yuan and 610,000 square meters in the first two months.

CSCEC acquired new land reserves of 2.81 million square meters in the same period.

As of end February, land reserves reached 52.05 million square meters.