Although a series of control policies were implemented in April, 112 listed real estate companies made sales revenues of 120 billion yuan (US$17.6 billion) combined in the first half of the year, a 30.8-percent increase over the same period last year, Securities Daily reported yesterday citing Wind Info, a service provider of financial data and software in China.

The companies also made total net profits of 24.2 billion yuan (US$3.55 billion), a 27.2 percent increase over the 19 billion yuan (US$2.79 billion) last year.

About 60 percent of the 112 listed real estate companies on the A-share market posted greater net profits than last year, while only 15 companies made a loss.

Most of the companies also have debts of more than 784 billion yuan (US$115 billion), which an analyst said was "big trouble".

China's business press carried the story above on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.

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