For those of you unable to listen to the entire call at this time, a recording will be available via webcast until May 24 on our corporate website at www.century21cn.com/english.
At this point, I’d like to turn the call over to Mr. Donald Zhang.
Thank you. Good day to everyone and thank you for joining us on this call. We are encouraged to see that the signs of the modest market recovery that we saw in the Q4 of 2011 have continued into the first quarter. While policy restrictions (inaudible) remain in place. We see clear indications that underlying demand remains strong and that go better and now two things we re-enter market. Those signs have been particularly evident in the secondary market.January and February were relatively quite as expected, however, we saw our rebounding transaction volumes in March, following the Chinese New Year in Shanghai, for example, we saw more than 16,000 CENTURY transactions in March, which is more than in any other single month since January of 2011.It is important to note here that there were no policy changes, driving these activities during the quarter. In fact, we believe that buyers increase the fuel that the prices have bought and see this at this time to lead the actual market. At the end of the March, the central government made very clear that it tends to keep it’s [confident] restriction in place, in the medium term, while (inaudible) in the market sentiment a little.The impact of transaction volumes was not as near as the part of government announcement. Our initial data for April indicates, that the volumes declines somewhat in fact as still at relatively healthy levels, which project that the lack of the positive signals for the central government is trending less of inactive impact on buyer sentiment than before.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV