China Vanke to invest $7.3b in Qinghai province

China Vanke has plans to invest about RMB50 billion ($7.3 billion) in Xining, the capital of China’s central Qinghai province, reported China Knowledge.

It is reported that this Shenzhen-based company and the local government in Xining have signed a strategic cooperation framework agreement.

Vanke’s move aims to upgrade and perfect city functions, as well as to improve citizens’ living conditions in Xining.