Vanke Tries Promotion with Taobao amid Slowing Sales

(Beijing) – China Vanke Co. Ltd., the country's largest property developer by number of units sold, will cooperate with the popular shopping website Taobao.com to sell its homes across the country for a one-month period amid a downturn in the real estate industry.

Taobao users can get discounts on home purchases in 23 projects in 12 cities from August 25 to September 30. The discounts are based on how much shoppers have spent on the website, and range up to 2 million yuan for a villa development where units cost around 20 million.