China Real Estate Corporation Limited (SZSE:000736) agreed to acquire 93% stake in Suzhou Huatou Investment Co., Ltd. from Jiangsu Nantong No. 3 Construction Group No. 3 Construction Installation Engineering Co., Ltd. for CNY 46.5 million on January 25, 2017. Jiangsu Nantong No. 3 Construction Group No. 3 Construction Installation Engineering owned 100% stake in Suzhou Huatou Investment Co., Ltd. before this transaction. The transaction does not require approval of the shareholders of China Real Estate Corporation and was approved by the Board of China Real Estate Corporation. Market and Quality Supervision Commission of Wujiang City approved the transaction on February 27, 2017.