Longfor confident in sales target

Longfor Properties Co Ltd expressed confidence on Monday in meeting its full-year sales target, as strong demand drove a sharp rebound in the property market.

First-half sales were 22.4 billion yuan ($3.6 billion), or 49 percent of its 2013 goal, the Beijing-based company said in its interim results. Chief Executive Officer Shao Mingxiao said that there is "no problem" to meet the target.

Longfor said last week that July sales jumped 44 percent year-on-year and 2.1 percent month-on-month to 4.42 billion yuan, representing 334,000 square meters of property.