While implementing independent development of railway lands, CHINA RAILWAY has intensified joint and cooperative development of railway land through market-oriented operations in the spirit of openness and win-win cooperation. On August 8 and August 18 of 2017, CHINA RAILWAY organized two events on promoting comprehensive railway land development projects respectively on Shanghai United Assets and Equity Exchange and China Beijing Equity Exchange. These two promotional events involved 21 projects of 16 railway administrations and one joint-venture railway company, covering a total of 20,552 mu (one mu is equal to 666.6 m2). These projects were mainly to develop commercial housing, urban complex, and tourism, logistics and elderly care properties with a total estimated investment of 110.346 billion yuan. It’s predicted that these projects would realize 15.296 billion yuan in sales revenue, 312 million yuan in annual income from self-sustained property management, and 6.341 billion yuan in land income.
These two promotional events attracted the participation of 143 real estate enterprises and investment institutions, including Vanke, Greenland, Evergrande, Country Garden and some other Top 50 domestic real estate enterprises. 128 enterprises, about 89.5% of all participating enterprises, expressed their interest in these projects being promoted. 84 enterprises, about 58.7% of total presented, expressed their intention of further engagement for these projects. 30 websites, including cctv.com, news.sina.com,cn, and finance.ifeng.com reported and forwarded news about these promotional events. It’s generally believed that these two events came as a pioneering move of CHINA RAILWAY for mixed-ownership reform and would give a strong boost to subsequent joint venture and cooperative development of railway land.
At present, Vanke, China Railway Construction Corporation Limited, Longfor Group, among other domestic real estate enterprises have extensively collaborated with railway group companies and implemented a number of projects, including Jade Four Seasons in Shenyang, “Qingxiu·Weizheshan” in Chengdu and Upper Cover of Shapingba Station in Chongqing, etc. These projects have received good social and economic benefits.