Date
20 October 2017

Wuhan blacklists Country Garden unit over sales, Xinhua says

The Wuhan subsidiary of Country Garden Holdings Co. Ltd. (02007.HK) was blacklisted by the Wuhan Housing Administration Bureau for conducting property sales without the necessary permits, the official Xinhua news agency reported Thursday. The news came less than two weeks after the central government announced plans to tighten supervision of the property market. Meanwhile, Country Garden said contracted sales for the 11 months to November jumped 129.7 percent to 96.7 billion yuan (US$15.8756 billion) from a year ago. For November alone, sales rose 179 percent year on year to 17 billion yuan, the report said.

– Contact HKEJ at [email protected]

EL/AC/CG

 

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