Why Ying Li attracts China Everbright

CHINA Everbright Limited (CEL), which will be pumping $284 million into Ying Li International Real Estate, has cast its eyes on the Singapore mainboard-listed Chongqing developer because of its attractive features: its business model and focus.

The Hongkong-listed company also likes Chongqing's economic and political landscape: strong growth amid China's slowdown and its position as a high-ranked city.

James Pan, Everbright head of real estate investment and fund raising, said at a press conference yesterday: "If you look at the top 100 developers in China, they aggressively acquire land, do residential, sell to customers ... Our view is that this model has to be changed."