In Depth: Insurance Firm's Share Purchases Make Vanke's Leaders Very Nervous

(Beijing) – A string of share purchases by an insurance company has rattled China's largest developer by units sold annually.

Foresea Life Insurance Co. Ltd. and an investment company linked to it, Shenzhen Jushenghua Co. Ltd., bought 15.04 percent of China Vanke Co. Ltd.'s shares on the Shenzhen stock market in three rounds on July 10, July 24 and August 26, the developer said in statements. Vanke did not say how much Foresea spent.