China Overseas posts highest half-year profit

Hong Kong

STATE-OWNED China Overseas Land & Investment posted a 26 per cent rise in first-half core profit, helped by a property boom in the country, and raised its full-year sales target by 10 per cent.

Major Chinese developers have so far reported strong results for the first six months, with any impact from Beijing's stepped up efforts to rein in the real estate market likely to reflect on their financials only next year.