Vanke eyes new areas for future growth

China Vanke Co, a leading residential property developer, will switch gears and diversify into new areas to overcome flat growth that appears to have hit a ceiling after years of strong sales.

But stock markets in Shenzhen and Hong Kong shrugged off Vanke's strong first-half results that were announced late on Thursday.

This appears to have prompted the company to announce it is looking at new areas such as development of realty on railway land, alternative forms of urban rail transport, long-term rental apartments, winter vacations, nursing services for the elderly and education.