Vanke's chairman steps aside after building China's biggest developer

Shanghai

WANG Shi, who built China Vanke Co into the country's biggest developer after founding it 33 years ago, stepped down as chairman after an ownership tussle that ended with a state entity becoming its biggest investor.

The exit of the 66-year-old comes after metro line builder Shenzhen Metro Group Co emerged as a white knight last year and did a deal this month to boost its shareholding.