Vanke to open its first shopping mall

The nation's largest real estate developer China Vanke Co Ltd will open its first shopping mall on Tuesday, as part of its efforts to diversify its business.

With a gross floor area of 140,000 square meters, Vanke's first shopping mall is located in Beijing's Changping district.

The company main business involves commercial real estate, including setting up community canteens, vegetable markets, convenience stores and large shopping malls, which serve more than 300,000 people.

"Resources integration and management innovation will be two major growth drivers for Vanke in the coming years," said Mao Daqing, Vanke's vice-president.

Vanke aims to be more of a service-based company and better meet different demands from residents of the community, Mao added.

The company will explore more opportunities in the aging community next year, Mao said.