Vanke

China Vanke Co., Ltd.(万科企业股份有限公司) has become a leading real estate company in China since it stepped into the housing market over thirty years ago in 1988. The primary business of the company isreal estate development and property services. Adopting the strategy of focusing on city clusters, Vanke had already covered 66 cities in mainland China by the end of 2015, mainly in the Pearl River Delta centered incities of Guangzhou and Shenzhen, the Yangtze River Delta centered in Shanghai, the Bohai Rim Region centered in Beijing, and the Chengdu Region which covers major cities in Midwest China. Since 2013, Vanke has started making inroads intooverseas investments. It has now been involved in dozensof real estate development projects in Hong Kong, Singapore, San Francisco, New York and London. Its sales volume in 2015 amounted to 261.47 billion ($39.70 billion) yuan with a year-on-year growth of 14.3 percent for 20.67 million square meters with a year-on-year growth of 20.7 percent, making it a global industry leader in terms of sales performance. It also witnessed an increase of national market share to 3 percent. Vanke delivers its property service business primarilythrough Vanke Property Development Co., Ltd., which always regards the first-class property service and building maintenance as the essence of running businesses, actively implementing marketization, and providingexcellent residential service for more clients. By the end of 2015, the Vanke property had nearly a thousand property service projects in 64 large and medium-sized cities in mainland China, covering a contractual property management area of 210 million square meters.