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Vanke, China Aviation I to form joint venture

(China Daily)
Updated: 2007-02-09 09:22

China Vanke Co, the country's largest listed property developer, and China Aviation Industry Corp I, the nation's biggest aircraft maker, agreed to set up a 1 billion yuan property development venture.

Vanke will own 40 percent of the venture, while a unit of AVIC I will control 60 percent, Vanke said in a statement to the Shenzhen Stock Exchange yesterday.

The venture "will take advantages of the two sides' resources," Vanke said.