China Vanke's property sales rose 11.3% in May due to a thaw in China's housing market and government measures.

China Vanke's slumping property sales improved in May as the company's home sales rose 11.3% to 23.3 billion yuan, boosted by a thaw in China's housing market. The sales increase follows the central government's release of a rescue package to halt the real estate downturn. Shenzhen, where Vanke is based, and other major cities have lowered downpayment ratios and mortgage rates, contributing to the improved sales figures.