CREC has started to develop its business of real estate since the 1990s, which includes residential real estate, commercial real estate, tourism real estate, pension real estate and urban complex. The Company has successively develop its business in Beijing, Shenzhen, Shanghai, Guangzhou, Chengdu, Xi'an, Guiyang, Wuhan and other cities. In 2006, the State-owned Assets Supervision and Administration Commission awarded an “entry permit” for CREC. After more than 20 years of development, the real estate business has become an important part of CREC to improve the quality of development.
The overall requirements for the development of CREC's real estate business during the “Twelfth Five-Year Plan” period are: comprehensively implementing the scientific development concept, following CREC’s development strategy, coordinating management, integrating resources, improving the regional layout of real estate development, innovating real estate business models, authorizing decision-making privilege to real estate projects, establishing a multichannel investment as well as financing system and further polishing the brand of CREC Real Estate. The Company will fully utilize its integrated superiority, controlling risks comprehensively and moving forward towards the goal of building a world-famous brand in real eatate industry.