Nan Fang Du Shi Bao·2025-09-13 10:32Core Viewpoint - The article discusses the recent developments surrounding the Shijiazhuang Bai Shizhou urban renewal project, highlighting the denial of rumors regarding CITIC Urban Development's investment and the potential exit of Vanke Group from the project [1][12][16]. Group 1: Project Background - The Bai Shizhou urban renewal project is recognized as Shenzhen's largest urban renewal initiative, with a history dating back to 2005 when the local government began research on the project [5]. - The project is strategically located in the Nanshan core area, connecting major business districts and is expected to cover approximately 5 million square meters, featuring various commercial and residential facilities [5][6]. Group 2: Recent Developments - Recent rumors suggested that CITIC Urban Development would invest 12 billion yuan for a stake in the project, which was later denied by the company, clarifying that the reports were inaccurate [4][12]. - Vanke Group's potential exit from the project has been a topic of speculation, with indications that the company may withdraw due to ongoing financial pressures and project delays [16][22]. Group 3: Financial Challenges - Vanke's financial situation is under scrutiny, with a reported cash balance of 14.16 billion yuan against short-term debts of 155.37 billion yuan, indicating significant liquidity challenges [22]. - Green Scene China, the parent company of the Bai Shizhou project, reported a loss of 2.03 billion yuan in the first half of 2025, with total liabilities reaching 81.01 billion yuan, further complicating the project's financial outlook [23]. Group 4: Project Progress and Market Response - The first phase of the project, known as "Jingting," launched in 2023 with 1,257 residential units, but only 29.83% of the project has been registered by September 2025, indicating a slow market response [8][18]. - The project's ambitious design, including a 74-story building and a high plot ratio, has faced criticism, contributing to its lukewarm reception in the market [8][18].