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Monday, December 22, 2014

Wang Jianlin, China's property tycoon, finds golden path to billions

By Matthew Miller

BEIJING

Reuters - Tue Dec 23, 2014

Wang Jianlin built Dalian Wanda Commercial Properties Co into China's most powerful real estate firm with a mix of savvy political instincts and army-bred discipline, carefully navigating the country's government-led business environment.
"Remain close to government, and away from politics," Wang, 60, and now a billionaire, told Reuters this month. "It means deal more with the authorities," he said, referring to the Communist Party and the government, "And less with individuals."
In 1988, Wang left the army and borrowed 1 million yuan ($161,000) to start a real estate company in Dalian, northeast China. He attracted global firms such as Wal-Mart Stores Inc and Macquarie Group as partners.

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