China's CSCEC says sees 2010 sales at 300 bln yuan

SHANGHAI, July 29 - China State Construction Engineering Corp (CSCEC) <601668.SS>, whose shares surged in their Shanghai debut on Wednesday, expects its sales to reach 300 billion yuan ($43.92 billion) next year, its chairman said.

The company's sales in the first half of this year totalled 112.4 billion yuan.

CSCEC Chaiman Sun Wenjie made the comments at a news briefing following the start of the company's share trading in Shanghai.

He added that the company's property sales in the first half of this year were the same in terms of area as the total for all of last year.

CSCEC, China's biggest home builder, raised $7.3 billion in an initial public offering last week that was the world's largest IPO in a year.

The shares jumped beyond analysts' expectations in their market debut, boding well for upcoming IPOs but stirring concern about asset price bubbles. [ID:nSHA211352] ($1=6.830 Yuan)