China Resources 'Unlikely to Buy More Vanke Shares'

(Beijing) – The company that used to be the biggest shareholder in the country's largest developer by sales, China Vanke Co. Ltd., is unlikely to try to regain its position, a person with knowledge of the matter says.

The investment firm Shenzhen Jushenghua Co. Ltd. and an insurance company linked to it, Foresea Life Insurance Co. Ltd., bought another 7.41 percent of Vanke's shares on the Shenzhen stock market in December to become Vanke's largest shareholder, with 22.45 percent of shares.