China Vanke embraces the internet with Baidu partnership

China Vanke, the mainland's biggest developer by sales revenue, announced a strategic partnership agreement with internet search giant Baidu to aggressively use internet technology by expanding the services it offers while speeding up its entry into the mainland industrial property sector.

"The internet will change the world and those that cannot adapt to such a change will be washed out," said Vanke chief executive Yu Liang.

Vanke will use location-based service technology in its projects and usher in an era where property operators will make extensive use of internet technologies to analyse the activities of their clients to improve services.

Last year and earlier this year, Yu led his team to visit leading domestic internet firms including Alibaba, Xiaomi and Tencent, to learn how they can use the internet in the traditional property business.

The announcement also unveiled Vanke's quickened foray into the commercial property business in which it has lagged behind many peers including China Resources Land and Longfor Properties.

Another developer, Fantasia Holdings Group, has even attempted to spin off its property management subsidiary Colour Life for a separate listing in Hong Kong.