From Breakingviews- China property giants face call of tech sirens, says cbeddor:
A labourer gestures to his colleague outside their dormitory at a residential construction site of Evergrande, near a wall painted with the company logo, in Guangzhou, Guangdong province June 22, 2012. REUTERS/Stringer/File Photo
Evergrande on Tuesday reported that profit attributable to shareholders rose more than 50 percent last year. China Vanke and Country Garden reported double-digit earnings growth as well, even though national data showed sales growth in floor space terms slowed to 1.3 percent last year. Sales cooled further in January and February, yet home prices still rose more than 10 percent in February on an annual basis, according to Reuters. Average debt among rated developers is forecast to fall to 7.
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