- China’s leading real estate developer China Vanke (000002.SZ) has recently signed strategic partnership pacts with the government of Chengdu City, as reported by Tencent Finance.
- According to the pacts, China Vanke plans to invest RMB 200 billion in Chengdu in the future.
Why It Matters:
- The partnership between Chengdu City and China Vanke involves urban infrastructure construction, commercial and industrial real estate development, and so on.
- Chengdu City is located in the Middle West of China and is an emerging economic and technology center.
- China Vanke is principally engaged in real estate development and property management businesses. The company recorded a 36.5% increase in net profit for the first half of 2017 to RMB 7.3 billion.