Vanke keen on investing in China SOEs' property units

[HONG KONG] China Vanke Co Ltd, the country's largest listed developer, is interested in investing in property units of state-owned enterprises (SOEs) as Beijing opens up state-dominated industries to private capital.

Many SOEs have expanded into property development in recent years, attracted by big profits, although tighter credit and a slowing economy in China have raised concerns over the outlook for the sector.

"We see opportunities from the reform and opening, SOEs selling their competitive business. We are willing to cooperate," Vanke president Yu Liang told a real estate forum in Hong Kong yesterday.