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Wang Shi

In: Business and Management

Submitted By vivian0125
Words 7079
Pages 29
Executive Perspectives

April 2013

—an Interview with Vanke Chairman Wang Shi and CEO Yu Liang
Xiao-Ping Chen, University of Washington

Managing with Simplicity, Transparency, System, and Responsibility

An Overview of Vanke Established in May 1984, China Vanke Co., Ltd., is the largest residential property developer in the People’s Republic of China. First engaged in the residential property industry in 1988, Vanke identified mainstream residential property development as its core business in 1993. After years of effort, Vanke gradually sharpened its competitive advantages in the residential property sector and became the leading brand in China. Vanke annually provides homes to more than 400,000 households and earned total sales revenue worth 140 billion RMB by the end of 2012. Vanke has focused on major regions such as Pearl River Delta, Yangtze River Delta, and Bohai-Rim region, and now has a business presence in more than 60 cities across China. Since its IPO in 1991, the company's revenue and net profit have grown at compound annual rates of 30.2% and 34.3%. Forbes identified Vanke as one of the most admired Chinese companies and as the best Asian company. Internationally renowned media such as Investor Relations, The Asset, and Asiamoney have presented the company awards for “Best Corporate Governance” and “Best Investor Relations.” Vanke, committed to leading China’s green movement in the real estate sector, responded actively to China’s environmental challenges by minimizing its environmental impact in construction and home use. The company developed the National Construction Research Centre in 1999 to research prefabricated home building and eco-building technologies. In 2007, it was the first Chinese company to introduce prefab construction (PC), building 50000 m2 of prefab homes. That number increased by 12 times in…...

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