China Vanke boss Wang Shi
China Vanke once again topped the sales charts among real estate developers in China, however, analysts now warn that the Shenzhen-based firm needs to work harder at innovation if it is to maintain market leadership.
With revenues of 170.9 billion yuan in 2013, Vanke again led the field, followed by Greenland Group, Dalian Wanda Group, Poly Real Estate, China Overseas Land and Investment, Country Garden, and Evergrande Real Estate – all of whom achieved sales of above 100 billion yuan.
But the analysts say the focus of the competition among the big players in the sector should be on profitability and diversification strategies, including development of new business lines and new markets.
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