China Vanke, the nation’s biggest homebuilder by sales, has welcomed an increased investment by Anbang Insurance, a week after warning that stake-building by a different insurer, Baoneng, could “ruin” the developer’s reputation.
In a statement late on Wednesday, China Vanke said it had engaged in “effective” dialogue with Anbang, which had raised its shareholding in the property company from 4.5 per cent to 7 per cent over the last three weeks.
“Anbang is an internationally renowned Chinese company, a respected professional investor, with strong capital strength and rich experience in overseas property investment,” China Vanke said.
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