China’s largest property developer, China Vanke (2202.HKG, 000002.SHE) has teamed up with E-commerce Giant Alibaba (1688.HKG, S91.SGX) to offer discounts of up to US$325,000 (RMB2 million) on housing for customers who also shop on Alibababa’s online shopping site Taobao, Bloomberg reported, citing a statement realeased by Taobao. Vanke will grant discounts of RMB2 million on select properties if the home buyer spent more than RMB2 million on Taobao in the last year, while spending at least RMB1 makes buyers eligible for a RMB50,000 rebate. 23 Vanke projects in cities including Beijing and Hangzhou are covered in the Taobao offer, which started on Monday and lasts through 30 September.
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