The GFA sold in the quarter also fell from 189,000 square meters in the third quarter to 112,000 square meters in the fourth due mainly to two factors. First there were two new product launches that took place in the third quarter which was followed by more normal at sales activity in the fourth. So in other words, no new product launches in Q4. And second, overall market demand has mentioned earlier did moderate as described above.
Xinyuan Real Estate's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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