Vanke eyes services as tight supply era ends

Chairman sees demand for nursing homes, education and healthcare rising

The era of overall shortage has ended in China's property market, but new issues of unbalanced allocation and undeveloped services have emerged, said China Vanke Co's Chairman Yu Liang.

Yu made the comments at a news conference on Tuesday in Shenzhen, a day after the company announced its annual results. Following the announcement, the company's shares rose 4.85 percent and closed at 31.02 yuan ($4.95) on Tuesday at the Shenzhen Stock Exchange.