China Vanke (000002.SHE) signed a strategic alliance agreement with internet giant Baidu (BIDU.NASDAQ) to increase the use of internet technologies in its property services, South China Morning Post reported. The property developer plans to use location-based service technology to analyze the activities of its clients. Included in the announcement was Vanke’s quickened foray into the commercial property business. Vanke said it would open 20 new projects in the next three years all around China, and has formed strategic alliances with more than 40 retail brand operators towards that end. The company currently owns about 20 million square meters of commercial properties.
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