trending Market Intelligence /marketintelligence/en/news-insights/trending/tThsH69xJMkvQkFLBEvA3Q2 content esgSubNav
In This List

China Vanke unit guarantees loan for Shanghai senior-care facility

Blog

Global M&A by the Numbers: Q2 2022

Blog

SEC Climate Disclosure Requirements Heating Up: How to Take Action

Blog

Infographic 2022 Top Tech Trends Shaping Corporations

Blog

Middle East & Africa M&A by the Numbers: Q1 2022


China Vanke unit guarantees loan for Shanghai senior-care facility

Shanghai Shenyang Investment Management Co. Ltd. secured a 50 million Chinese yuan, 8-year loan from China Development Bank for a senior-care project in Shanghai.

The vehicle is a joint venture between units of China Vanke Co. Ltd., Shanghai Land (Group) Co. Ltd., Shanghai University of Traditional Chinese Medicine and another Shanghai-based investment manager.

China Vanke subsidiary Shanghai Vanke Investment Management Co. Ltd., which holds a 41% stake in the vehicle, will act as the guarantor for 20.5 million yuan, or 41%, of the loan.

The project under development is located on Zhenping Road in the Putuo District of Shanghai and will feature 342 hospital beds upon completion, according to its website. The facility is expected to open by the end of 2016, although no specific date was provided.

As of Dec. 15, US$1 was equivalent to 6.94 Chinese yuan.