Property giant Evergrande reports rising sales in 2020

BEIJING -- China Evergrande Group, one of the country's leading developers, saw a surge in sales, according to the company's statement.

Last year, its contracted sales jumped 20.3 percent year-on-year to 723.25 billion yuan ($112 billion), surpassing its sales target of 650 billion yuan, according to the company.

Meanwhile, the contracted sales in terms of floor area rose to 80.86 million square meters, up 38.3 percent year-on-year, said the company.

The company's balance of interest-bearing debt was 716.5 billion yuan as of the end of 2020, down by 157.8 billion yuan from March.

The property giant said that it would target 750 billion yuan of sales and further cut its interest-bearing debt by 150 billion yuan in 2021.