Xiongan Vanke Business Investment Co., Ltd. (Xiongan Vanke) was officially established on October 10, with total registered capitals of 2 billion yuan ($301 million), marking the ambition for the leading domestic real estate company in the region.
Subordinated to Vanke Group, the new company's business orientation is diversified and includes investment management, real estate exploitation and operation, property management, elderly care services, hospitality services, advertorial design and publication and business consultancy.
According to Vanke Group, Xiongan Vanke will be deeply involved in the exploitation and construction of the Xiongan New Area. However, the details of the project's implementation have not yet been revealed.
In light of the press release from Vanke Group, the head of Xiongan Vanke will be Zhou Wei, who is also the Deputy Party Secretary of the Party Committee of Vanke Group.
Although the company was not established until October, it was officially registered on July 18, making it the first company founded since the establishment of the Xiongan New Area.
Apart from Xiongan Vanke, there are currently 48 companies that have gained the certificates that allow them to settle their businesses in the region.
