China Vanke, country's largest developer, acquires $4B in land in 2013 Ltd. acquired 25 billion yuan ($4 billion) of land in major Chinese cities in the first five months of this year, sources told China Daily. The purchases by the country's largest real estate developer amounted to nearly 36 percent of its total sales revenue, the report said, quoting the company's report to the Shenzen Stock Exchange. Vanke reported net earnings of 1.61 billion yuan ($259 million) in the first quarter, up 15.6 percent from the same period last year, the report said. The company said 45 percent of the properties it sold during the quarter were small units, each covering less than 90 square meters, or about 970 square feet, of space. China Daily said most cities in China posted increases both in demand and price in March despite government efforts to curb real estate speculation. Beijing, which reported a 3.1 percent monthly price rise in March, led 66 medium and large-sized cities with similar increases.