August 20, 2018 / 10:28 AM / a month ago

Chinese developer Greenland to invest $14.6 bln in eastern city

HONG KONG, Aug 20 (Reuters) - State-backed property developer Greenland Holdings plans to invest 100 billion yuan ($14.55 billion) in Xuzhou to help with the development of the eastern Chinese city.

The investment will focus on city constructions, commercial logistics and developing real estate for industries such as technology and healthcare, Greenland said on Monday.

This is in addition to the 70 billion yuan the company has invested in Xuzhou since 2004. ($1 = 6.8740 Chinese yuan) (Reporting by Clare Jim)

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