Sunday, July 14, 2019

Caixing: ZTE Seeks to Cash Out of Shenzhen Property Project

ZTE reached a new agreement with property developer China Vanke Co. Ltd. regarding its Shenzhen Bay Super Headquarters Base project. According to Caixing, a Chinese business journal, ZTE has granted more operational rights to Vanke in exchange for 3.54 billion yuan (US $510 million), which is the amount that ZTE paid in 2017 to acquire the land.