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Sunac China, Beijing Capital Land to create 10B-yuan property, fintech fund

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Sunac China, Beijing Capital Land to create 10B-yuan property, fintech fund

Sunac China Holdings Ltd., Beijing Capital Land Ltd. and financing unit Prime Golden Capital agreed to establish an up to 10 billion-yuan fund to invest in real estate and financial technology in China.

Sunac China said in a Dec. 24 release that the fund is in talks to invest in various projects in the Chinese cities of Hangzhou, Wuhan, Zhengzhou, Shanghai and Kunming.

Target projects of the fund could reach 20 billion yuan, according to the release.

As of Dec. 24, US$1 was equivalent to 7.01 Chinese yuan.