Vanke's sales hit 141.2b yuan last year

China Vanke Co Ltd, the country's largest real estate developer, said its sales last year reached 141.2 billion yuan ($22.7 billion), up 16.2 percent year-on-year.

According to a statement released late Monday, December's sales reached 14.1 billion, up 141.8 percent compared with the same period in 2011.

As China's property market is showing signs of a recovery, sales in January may increase, Tan Huajie, the board secretary of Vanke said.

However, in some cities the inventories of new homes still remain at a high level, and the market will still face housing inventory pressure, Tan added.

The sales of Vanke, China Poly Group Corp and Greenland Group ?? the three leading real estate companies in China ?? all exceeded 100 billion yuan last year.