On July 20th, the Fortune Magazine released Global Top 500 Enterprises. Vanke was first listed on Fortune Global 500 and ranking 356th for its revenue of 184.318 billion yuan (29.329 billion dollar) in 2015.2016
From May 1st to October 31st, Vanke Pavilion was present in Milan Expo 2015.Vanke Pavilion use the “dragon” to tell the stories of Chinese Canteen, thus express the broad and profound diet culture and Vanke’s reflection on modern society culture and neighborhood relationship. In the opening ceremony of Vanke Pavilion, the Company published the new generation of corporate identity.
In August 20th, in the 25th anniversary of Vanke Service, it officially started using the new corporate identity to express its “newer and better” pursuit in innovation. At the same time, Vanke Service released the “Rui Service2.0” which deeply mix the new technologies application and property management together.
In November 13th, for its innovation in corporate institutions, Vanke Business Partner Mechanism was awarded the “Shenzhen Jinpeng Revolution and Innovation Prize”.2015
On April 23, Vanke held the Founding Conference for Business Partners. The business partner mechanism would fundamentally change Vanke's existing management model, allowing it to think ahead for future development and to better realize benefit-sharing.
On June 25, Vanke was listed at HKEx after converting its B shares to H shares.2014
On January 21, the World Expo Milano 2015 & China Participation Promotion kicked off in Beijing. Vanke was the first Chinese enterprise that built its own pavilion in overseas Expos.
In January, Vanke and New World Develop Co., Ltd. of Hong Kong jointly won bidding for a housing project at 6 Tsuen Wan West Station – the first project to be developed by Vanke in Hong Kong. In April, Vanke and Keppel Land of Singapore signed a strategic partnership agreement for developing a housing project called The Glades, signifying Vanke's business presence in Singapore. In June, Vanke's first U.S. project at 201 Folsom Street, San Francisco was inaugurated, with its partner being Tishman Speyer.
On May 17, Yu Liang, the President of Vanke, successfully reached the peak of Mount Everest.2013
On June 28, Vanke was honored to beranked as No. 1 among the “Top 100 Chinese Property Service Providers 2013” andto be listed on the “Top 10 Chinese Property Service Providers 2013”. On June20, Vanke Property's “all-in-one-card” system was launched. Both the App forVanke home owners “Living Here”, and the App to be used by Vanke PropertyService employees called “Happy to Help” were launched online for beta test. Onthe same day, its CRM system and Call Center 4009-51-51-51 were launched aswell.
On October 12, the Company held the routine autumn meeting and decided that continuing “efficiency improvement based on good overall business performance” would be the business guideline for the coming decade, and that Vanke's transformation goal is to be an “urban infrastructure service provider”.2013
On December 26, Wang Shi was elected by ShenzhenGeneral Chamber of Commerce as the first Chairman of its Board of Director.
In March, the Company was given BBB+ byStandard & Poor's, Baa2 by Moody's, and BBB+ by.Fitch Ratings respectively, indicatingstable prospects and was the highest credit ratings ever received by a Chinesereal estate enterprise. In the meantime, it completed its first issue of 5-yearoverseas bonds for USD 800 million at an annual interest rate of 2.755%, which brokethe record of low costs of overseas bond issuance for a Chinese real estateenterprise. In July, it made a USD 2 billion medium-term note plan, whichallowed for flexible overseas financing with multiple currencies and durations.
In the same year, a number of Vanke's commercial projects were launched, such as Beijing Jinyu Vanke Plaza, ShenzhenLonggang Vanke Plaza, Suzhou Meihao Plaza, Dongguan Songshan Lake LivingCenter, and Shenyang Hunhe Tiandi Living Center.2013
On February 12, Yu Liang won the title of CCTV Annual Economic Figure of the Year. Following Wang Shi's winning in 2000, it is the second time that a Vanke leader had received this honor.
On February 16, the An Xin Floor's quality scandal broke out. Vanke actively pushed forward investigation of the incident in an open and transparent manner, and therefore gained recognition from the industry, customers and the general public. A trust crisis was soon dissolved.2012
On February 29, the first “Happy Station” opened at Guangzhou Vanke Blue Mount Garden, providing services including postal parcels, home renting and selling, errands running, housekeeping, and other convenient services for home owners. It marked the appearance of the rudiment of the “Platform” and the official implementation of the “Happy Community Plan”. On June 22, the first “Fifth Canteen” opened at Shenzhen Vanke Town. On September 2, the “Warehouse of Everything” service was initiated at the Nanjing Golden Home compound.
In July, www.nxvpb.completed the acquisition of 75% of the stock shares of Winsor Properties Holdings, which was listed on HKEx. Vanke changed Winsor's company name to Vanke Property (Overseas) Limited in the same year. Vanke has since owned a company listed in Hong Kong, making it an important platform for overseas business development. On November 26, Vanke Hong Kong Management Office held an opening ceremony on the 55th floor of the Bank of China Tower in Hong Kong.2012
On July 7, Yu Liang attended an entrepreneur symposium presided over by Wen Jiabao (then the Premier of China)and gave his comments on the economic situation.
On December 6, Vanke's “6+2 Steps for Customer Service” received the copyright certificate issued by the National Copyright Administration.2011
On April 19, a collective inauguration ceremony (see below) took place for the five Guangdong exhibition halls including the Vanke Hall at World Expo Shanghai. On May 1, the Vanke Hall welcomed the first batch of visitors.
On May 22, the “Zero-kilometer Action” South Slope Mountaineering Squad including Wang Shi reached the top of Mount Everest, who brought the World Expo flag with them. Wang Shi landed on the top of Everest the second time after seven years, beating the national record of “the oldest person that has ever reached the top of Mount Everest”, a record he previously created.
On December 1, the sales volume of the Company exceeded RMB100 billion, realizing in advance its goal of RMB100 billion sales set back in 2004, and made Vanke the first Chinese real estate company with annual sales of more than RMB100 billion.2010
On January 8, Vanke became the one and only real estate enterprises which “directly liaises with the State Administration of Taxation” as ratified by the State Administration of Taxation. In the same year, it published for the first time “Vanke Corporate Social Responsibility Green Book & 2007 Corporate Citizenship Report”.
On September 29, Vanke Headquarters in Shenzhen moved to the Vanke Center at 33 Huanmei Road, Dameisha, Yantian District, Shenzhen from its original office at Vanke Architecture Research Center located at 63 Meilin Road, Shenzhen.2009
After the Wenchuan Earthquake in May, Vanke donated 100 million RMB to the affected areas and sent people and relief to help with the rescue and reconstruction. On May 15, Vanke set up a volunteer charity team called “We Are Together”, made up of its employees, to follow up with the Vanke employees and their families affected by the earthquake in a timely manner. The group provided the affected employees and their families with spiritual comfort, psychological relief and financial support. On December 31 14:28, the rebuilt Zundao School was put to use, which was the first rebuilt permanent school after the Wenchuan earthquake.2008
In July, Vanhui Building, speciallyplanned and designed by the Company, was listed by Guangdong ProvincialDepartment of Housing and Urban-Rural Development as a “Pilot Low-income RentalHousing Project Invested by an Enterprise in Guangdong Province”.
In September, Vanke Charity Foundationwas established with the mission “to advocate the charitable and volunteeringspirit and push forward the development of Chinese charity sector”. The Foundationinitiated well-known charity institutions at home and abroad such as One Foundation.2008
In January, Vanke formed the “Vanke Group Furnished Housing Promotion Team” and began to implement its “Furnished Housing” strategy gradually in Chinese cities with its business presence. By the end of 2010, Vanke’s mainstream housing products were delivered after furnishing. From 2012 to 2013, it delivered over 100,000 furnished units each year.
In April, Vanke Real Estate (Hong Kong) organized a US$250 million consortium loan, establishing its good reputation in the inter-bank market in Hong Kong. In July, Vanke and Capitaland of Singapore entered into an agreement for strategic cooperation in the commercial area.
On May 9, Vanke Property Management Co., Ltd, a Vanke subsidiary, was changed to Vanke Property Service Co., Ltd.
On October 29, Vanke started to use its new logo, and summarized its core corporate philosophy as “Celebrate Life with Architecture”.2007
On January 18, the Company acquired 60% of the Beijing Chaowan Real Estate Development Center shares originally held by Chaoyang District State-owned Assets Supervision and Administration of Beijing, which was an important strategic move for the Company's development in the Bohai Sea Ring. In March, Vanke and CITIC Capital founded CITIC Vanke China Real Estate Development Fund, which was a US$-denominated fund especially for investments in Vanke projects.
In the name of Vanke Group, the company obtained the level-1 real estate development qualification from the Ministry of Housing and Urban-Rural Development.2006
In March, the BOD approved the strategic cooperation agreement with Nandu Group, and the Company took over 70% of the equities of Shanghai Nandu under Nandu Group, 49% of the equities of Suzhou Nandu, and 20% of the equities of Zhejiang Nandu for RMB1.857 billion.
In June, “Vanke” was ratified as a Famous Trademark by the State Administration for Industry and Commerce. It was the first state-ratified famous trademark in the Chinese real estate industry.
On August 15, the Company and the Administrative Committee of Dongguan Songshan Lake Science and Technology Industrial Park signed a land agreement for “Vanke Housing Industrialization Research Base Project”, indicating that the Base Project already entered the planning and design phase.2005
In February, the Company held a brainstorming meeting at Yunhai Resort in Shenzhen. It put forth the plan to increase its sales to RMB100 billion in ten years according to the industry experience in developed countries such as the U.S. and Japan and its development momentum.
In April, Zhongshan Vanke and HYPO Real Estate Bank International (HI) signed a cooperation agreement, under which HI would provide Vanke with US$35 million or less for Zhongshan Vanke City Landscape Garden. In November, Chengdu Vanke and a subsidiary of Singaporean sovereign fund GIC entered into a cooperation agreement for joint development the Chengdu Charm City project.2004
These two successes in its overseas financing signified the beginning of the Company’s corporation with international capitals and gaining more and more experience in seeking the support of overseas capital. In the meantime, Vanke Real Estate (Hong Kong) Co., Ltd, the Company’s first offshore financing platform, was founded.
In April, Wuhan Wonderland home owners started high-profile group complaints due to the expansion of a nearby rubbish dump against the Law. The Company communicated with the home owners in an open and sincere manner and consulted with the local government for solutions. The next year, the dump was moved, with all the original rubbish covered up. This incident brought Vanke a brand-new culture and set of rules: customers must be reminded of unfavorable elements outside the red line, i.e. during the sales of products, it is necessary to remind customers of all unfavorable elements within the scope of the project and within one kilometer outside the red line of the project.2004
In August, the Company held a routineseasonal meeting, where it established its third ten-year medium-term tolong-term development plans. Vanke decided to implement the strategy of“acceleration based on overall good business performance” and proposed that thestrategic goal of Vanke for the coming decade would be “quality growth” and alsoplanned to realize the sales target of RMB100 billion in 2014.2004
On May 22, Wang Shi reached the top of Mount Everest.
In December, the Company held a brainstorming meeting at the National Mountaineering Squad Training Base in Huairou, where it decided to take Pulte Homes as the benchmark in its growth. Pulte Homes was then the largest U.S. real estate developer who made profits for 53 years consecutively with great performance in cross-regional operations, land reserve, continuous profitability, market share, customer segmentation, and customer relations management.
The Company developed business in the Pearl River Delta region centered on Shenzhen, the Yantze River Delta region centered on Shanghai, the Northeast China region centered on Shenyang, and formed Shenzhen, Shanghai, and Shenyang regional management centers (later evolving into the Guangzhou-Shenzhen Region, Shanghai Region, and Beijing Region Headquarters). In March 2010, the Chengdu Region Headquarters was founded.2003
In January, the Company's Headquarters moved to Vanke Architecture Research Center Building at 63 Meilin Road, Futian District, Shenzhen.
In June, the company issued 15 million convertible company bonds to the public for RMB 1.5 billion in total. The success of this issuance provided strong support for the Company's expansion.
In November, the Company acquired the Bichonggang patch in Huangqi of the Nanhai District in Foshan, marking its entry to the Pearl River Delta market outside Shenzhen.2002
In February, Yao Mumin resigned from his position of General Manager of Vanke for health reasons and the BOD appointed Yu Liang as the successor.
Shenzhen Vanke Property Management Company obtained the level-1 Property Management Qualification Certificate issued for the first time by the Ministry of Housing and Urban-Rural Development.
The second temporary shareholder meeting of Vanke for 2001 took place at Donghu Hotel in Shenzhen. The meeting passed a resolution regarding the transfer of the equities in Vanguard Department Store and rules of procedure for the shareholder meetings. Up to this point, the Company had completed the strategic adjustments of its business.2001
In January, Vanke Property was contracted to undertake the property management service for the office buildings and residential buildings of the Ministry of Housing and Urban-Rural Development complex, taking a critical first step in its exploration of market-oriented property service. In February, Vanke Property and the Headquarters of Bank of China entered into a strategic bank-enterprise cooperation agreement involving total credit quotas of RMB2 billion, which made Vanke Property a major headquarter client of a bank for the first time.
In July, Vanke's first batch of “New Dynamics” employees reported for duty at the Company. To attract talents with strong capabilities for the rapid development of the Company, Vanke began its first “New Dynamics” campus recruitment in 1999, which have continued in the years to follow. “New Dynamics” is no longer a name for a certain group of people at Vanke; instead it has become an internalized spirit standing for passion, practicality, focus, and innovation.2000
From August to December, China Resources National, now China Resources (Holdings) Company Limited became the largest shareholder of the company by acquiring the Vanke shares transferred by Shenzhen SEZ Development (Group) Company and Tianfa Qingfeng (Changzhou) Development Co., Ltd.
Wang Shi was selected as CCTV 2000 Economic Figure of the Year.2000
In February, the BOD accepted the resignation of Wang Shi as General Manager of the Company, and hired Yao Mumin in his place.
In July, the Company founded the Vanke Architecture Research Center in order to enrich the brand of Vanke, improve its real estate development level, and incorporate more technologies into its protect development.
In December, the Company advocated the establishment of the “Chinese Urban Real Estate Developer Coordination Network” to allow joint research on urban real-estate develop strategies of the industry.1999
In April, the Company adjusted its investments in the real estate business and decided to decrease its holding of shares of Hong Kong Yindu Property Co., Ltd. and increase its holding of shares of Shenzhen Poseidon Property Co., Ltd. In November, the BOD decided to sell its subsidiary Shenzhen International Enterprise Service Co., Ltd.
In August, the Company launched Vanke Club, an effective channel of communications with customers, which was applauded by the media as an important approach revolutionizing Chinese real estate business operations.
Wang Shi was included in the list of “20 Persons of the Past 20 Years of Reform and Opening-up”. The interview with him was aired nationwide on CCTV.1998
In the first half of the year the Company smoothly implemented its plan of issuing new shares and raised RMB0.383 billion, providing strong financial support for the development of its real estate projects and land reserve in Shenzhen.
In October, the Company sold its two industrial subsidiaries: Shenzhen Vanke Industrial Loudspeaker Factory and Shenzhen Vanke Electric Power Supply Service Co., Ltd.
In November, to further develop its retail chain business, the BOD of Vanke decided to increase its holding of Vanguard Department Store shares from 60% to 68%.
In November, Zhu Rongji, then Vice Premier of China, toured Shenzhen to learn about the conditions of local enterprises. At a meeting during his tour, he listened to Wang Shi's report on the tax splitting rules and the status quo of the real estate sector, and asked Wang to be his advisor on real estate industry.1997
In May, the Company's Fund Settlement Center was created, with Yu Liang as its Director. The Center played a critical role in integrating the company's resources and improving its management efficiency, and also laid a solid ground for directing all the fund settlements in various branches to the Company's Headquarters.
To integrate its industrial resources and focus on the production of premium gift products, in the first of the year the Company transferred out its shares in Shenzhen Yibao Beverage Co., Ltd. In August, the Company restructured its premium product manufacturing company to form the Vanke Premium Product Manufacturing Co., Ltd.1996
On October 11, Shenzhen Vanke Property Co., Ltd. was ISO9002 certified, which made it China's first property management firm that was internationally certified. In the same year, it won the first place in China's first open tendering of property management projects, to provide property service to the Ludan Village in Shenzhen, making a breakthrough in a market where only the developer of the property could provide property service.1996
Early in the year, the company restructured its trade business and integrated its resources. The original Shenzhen Vanke Trade Company, Shenzhen Vanke Xiehe Co., Ltd., and Shenzhen Modern Enterprise Co., Ltd. were merged together as Vanke Trade Co., Ltd.
In November, Shenzhen Sky View Garden and Qingdao Yindu Garden developed by the Company were rated as “National Excellent Property Management Demonstration Housing Projects”a1995
On March 30, Guotai Jun'an Securities, general undertaker of Vanke B-shares, joined other four major Vanke shareholders to issue “A Letter to All Shareholders of Vanke Co., Ltd.”, historically known as the “3/30” incident. The incident was in nature intended to be a hostile takeover in a bid to reorganize Vanke's Board of Directors. Due to its own problems, Guotai Jun'an failed in its attempt.
In December, the Company won the “First Shenzhen Excellent Enterprise Award” and Wang Shi the “First Shenzhen Excellent Entrepreneur”, granted by Shenzhen Municipal Government.
At this point, the Company owned 24 subsidiaries, covering real estate, property management, business and trade, consulting, film & TV & culture, beverage and food, advertising, print design, and electronic plate-making. It was rated as an AAA enterprise by Shenzhen Credit Assessment Co., Ltd.1994
In January, senior management of the Company held a brainstorming session in Shanghai and reflected on the development route of the Company since it publicly issued A stock shares in late 1988, and decided to give up the “integrated business” model. Instead, the Company decided that its major business would be to develop residential housing for the public, which would enable the Company to speed up the capital accumulation process and reach a significant business scale in a short period of time. In July, the Company Headquarters was relocated from 50 Heping Road, Shenzhen to Vanke Industrial Building, Building No. 14, Shuibei 2nd Road, North of Cuizhu, Shenzhen.1993
In April, the Company signed a 45 million B-share underwriting agreement with the underwriting consortium composed of Standard Chartered (Asia) and Guotai Junan Securities Co., Ltd., which stipulated that HK$451.35 million would be raised with each share selling for HK$10.53. These B-shares of Vanke were traded at Shenzhen Securities Exchange as of May 28.
On November 10, the Company acquired 1.35 million common shares of Shanghai Shenhua Holdings Co., Ltd. (5% of its total shares) for RMB39.73 million. Both companies announced their business cooperation through sharing and holding equities. This has been known in the Chinese securities industry as “China’s first case of achieving operational participation in good faith through share holding in the secondary market.”1993
In January, Shenzhen Vanke Property Management Co., Ltd. was founded, indicating he official establishment of the legal person status of Vanke Property.
In March, Vanke Weekly Journal, an internal cultural publication of Vanke, saw its first issue. ?As of its 18th issue, it received its Shenzhen company internal publication number and the name was changed to Vanke Weekly.
In August, Vanke developed the Vanke City Garden project in Qibao Town of Shanghai, which was the first large suburban housing community that had ever integrated living, business, education, entertainment, and leisure in the Company's history.1992
In April, Vanke proposed its philosophy “Talents are the capital of Vanke.”
In August, Vanke and Super Ocean Group jointly bid for a patch of land in Gubei New Area in Shanghai to build “West Suburbs Garden Villas”, signifying the entry of Vanke Real Estate into the Shanghai market.
In December, the first home owners committee in China was created in Shenzhen Sky View Garden, initiating the new property management model of “combining the autonomy of home owners with professional service”.1991
Vanke invested in Longhuan Beverage Co., Ltd. by holding shares. The Company founded Vanguard Department Store, which first operated on the 4th floor of Friendship Town in the Luohu District of Shenzhen. A movie invested by Vanke which was called The Spring Festival won the Special Panel Award at the 4th Tokyo International Film Festival.
Vanke established its “integrated business” development model. According to international practice, it divided its business into ten major sectors: import and export, retail chain, real estate development, finance & securities investments, culture, film and TV production, advertisement design and releasing, production and sales of beverage, printing and plate making, machining, and electric engineering.1991
The Company decided to foray into new areas such as retail chain, film production, and laser disc production, forming a business structure supported by the “four pillars”, namely trade, industry, real estate, and cultural communications.
In August, Shenzhen Sky View Garden was completed, which was the first housing project of Vanke.1990
On March 28, the company's IPO succeeded. Its first general shareholders meeting took place, and its first Board of Directors consists of Wang Shi and other 11persons.
In June, the Company's sales of photography equipment suffered from market contraction for political reasons. With the support of Shenzhen Municipal Government, the Company was active in promoting its products, expanding its market, and sorting out its credits and debts. Vanke's industrial company achieved impressive performance, generating a new source of profit for the Company.1989
On November 18, the Company acquired the patch of land for Weideng Villas for RMB20 million by bidding. In the same year, it cooperated with Xin'an Town of the Bao'an District in Shenzhen in investing in its first land development project Gushu Village Hunggangling Vanke Industrial Park in Xin'an Town of the Bao’an District in Shenzhen, marking its debut in the real estate industry.
On November 21, Shenzhen Municipal Government approved the Company's plan to restructure into a stock company, whereby it would raise RMB28 million through an IPO. After the IPO, its name would change to Shenzhen Vanke Co., Ltd., with the stock code of 0002.1988
The Company's business model was adjusted. Instead of importing whole instruments, it imported parts and component to be assembled and then sold in China. The business developed well. It established close business relations with Japanese companies such as Sony and established “Sony Technical Service Center Shenzhen Stop” in cooperation with INSTRIMPEX. In this process, the Company got exposed to and learned about customer service, which laid a solid foundation for its property management service in its future real estate business.
In June, the Company changed its name to “Shenzhen Modern Scientific Instruments Center”.1987
The Company carried out extensive cooperation with its Hong Kong counterparts. On June 20, it joined Yu Fung Company of Hong Kong and Suzhou Wristwatch Factory in investing in its first watch industrial project Shenzhen Jingshi Enterprise Co, Ltd. On September 20, the Company and Lau Yuen Sung, a Hong Kong businessman, jointly invested in the printing & plate-making industrial project Shenzhen Caishi Dianfen Co., Ltd. On September 26, the Company and Woo Leung Lei, a Hong Kong businessman, jointly invested in Huayi (Shenzhen) Jewelry Production Co., Ltd.
In November, the Company changed its name to Shenzhen Modern Enterprise Co. Ltd.1987
To break free of the rigidity typical of a state-owned enterprise in business operations and speed up its business development on a large scale, the Center made the decision that it should get incorporated as a modern limited company and make its IPO in two years. For this purpose it hired Shenzhen Zhonghua Accounting Firm as its financial consultant. The Center moved to 50 Heping Road, Luohu District.
Scientific Instruments Section under Shenzhen SEZ Development was restructured into “Shenzhen Xinyidai Industrial Co., Ltd.”, with Zhang Xifu as its General Manager and Wang Shi as its Deputy General Manager.
Through joint investments, the Company and Cheung Gung Tai, a Hong Kong businessman, founded the first joint venture “Shenzhen International Enterprise Service Co., Ltd.”, whose business mainly included display service for various exhibitions and demonstrations.1986
The market for the imported mechanical and electrical products started to shrink. The Company seized the opportunities to develop sales business via various routes, and successfully built the sales model in which the Shenzhen Headquarters was responsible for foreign currencies, import and export, and its Guangzhou branch responsible for storage and distribution of goods, and its Beijing branch for the sales in the domestic market. At one point, the sales of the Center accounted for 60% of the market outside government's planned economy.1985
The Government tightened up its macro control, especially over foreign exchanges and mechanical and electric products, resulting in serious contraction of the domestic market. The Center immediately adjusted its business strategy and succeeded in avoiding the market risks by significantly cutting prices, improving customer service, expediting the collection of accounts receivables, etc. However, as a price to pay, it had to reduce its employees by 20%.
The parent company of the Center, Shenzhen SEZ Development Co., Ltd., invested in “the Shenzhen Development Center Building” project, and the Center and its parent company disagreed over how to use the foreign exchanges at their respective disposal. The disagreement would exert far-reaching influence over the Company's future business development.1985
On May 30, Shenzhen Modern Scientific Education Instruments Exhibition & Sales Center (the predecessor of Vanke) was officially registered with Shenzhen Administration for Industry and Commerce. According to the registration, it was a state-owned company, with Wang Shi as the legal representative. Its main business was the import and sales of office automation equipment and professional film and TV equipment. At that time, it was the largest supplier of professional photography equipment in Shenzhen SEZ.
On September 21, the Center officially opened for business at 1 Jianshe Road in the Luohu District of Shenzhen.
At the end of the year, the Center and Beijing Xiehe Medical Science And Technology Development Company jointly invested in and founded “Shenzhen Modern Medical Technology Exchange Center”, with its main business being the import of medical devices for the domestic market.1984
In May, the Trade Department under Shenzhen SEZ Development Company established an animal feed section. The section was headed by Wang Shi, with salespersons of Deng Luanquan, Huang Shihao, Zou Laizhong, Li Hua, Cai Suhong, Zhong Tingxian, Fan Qiurong, and Huang Huiqin. Its main business was to supply raw materials for the production of animal feed. This business helped complete the initial accumulation of capital for the future Vanke.
At the end of the year, all the employees of the feed section were transferred to the Scientific Instruments section, with Zhang Xifu as the section chief and Wang Shi the deputy section chief.1983