Vanke buys $4 billion land plots

China Vanke Co Ltd, the nation's largest real estate developer by sales, secured 38 plots of land valued at 25 billion yuan ($4 billion) within five months, sources said.

Vanke bought 8 land plots worth of 3.6 billion yuan in May in eight cities, including Beijing, Dalian Wuhan Changsha and Nanchang, the Shenzhen-listed company said in a file sent to the Shenzhen Stock Exchange on Monday.

Vanke spent 25 billion yuan in land purchases from January to May, which accounts for 35.64 percent of its total sales revenue.