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China Vanke denies rumors over becoming state-controlled

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China Vanke denies rumors over becoming state-controlled

replied toa letter of inquiry from the Shenzhen Stock Exchange concerning China ResourcesCo. Ltd. and Shenzhen Metro Group Co. Ltd.

Specifically,the two have denied recent media rumors that they plan to buy shares of thedeveloper that are held by topshareholder Baoneng Group, at a premium.

Thetwo were reported by local media to be planning buy the shares to China Vanke's largest andsecond-largest shareholders. The acquisitions, in turn, will make China Vanke astate-controlled company, the reports said.

Baoneng'saffiliates also denied the rumors, according to the filing.