Vanke to borrow another 3 billion yuan from China Resources Trust

** Daily News.com Wanke announced that in order to meet the needs of its multiple project development, the company applied for a trust loan of RMB 1 billion and RMB 2 billion respectively from China Resources SZITIC Trust Co., Ltd. with a loan period of 2 years. 10.6% and 10.5% respectively.

According to the announcement, in order to meet the needs of the company's Dongguan Zitai, Dongguan Jinyu Washington, and Anshan Whistler project development, the company applied for a trust loan of RMB 10 billion from China Resources Shentou Investment Trust Co., Ltd.; During the period, the need for the development of Nanjing Golden Mile Blue Bay Phase III, Hangzhou Liangzhu Bailu County West Phase I and Qinhuangdao Holiday Landscape Phase III project, applied for a trust loan of RMB 2 billion from China Resources SZ International Investment Trust Co., Ltd.

Vanke stated that this application for trust loans will help support Dongguan Zitai, Dongguan Jinyu Washington, Anshan Whistler, Wenzhou Longwan Garden Phase 1, Nanjing Golden Mile Blue Bay Phase III, and Hangzhou Lianglu Bailu County West Phase I. The development of the Qinhuangdao Holiday Landscape Phase III project will help improve project operating efficiency.

According to statistics, in December 2011, Vanke had applied to China Resources SZ International Trust Co., Ltd. for a trust loan of RMB 1 billion for the development of the Shanghai Five-Family Square. Including the two loans for this application, the company has applied to China Resources SZ International Trust Co., Ltd. for a total of RMB 4 billion.