February 15，188bet online sports betting A (000069.SZ)’s real estate company spent 59.Obtained a commercial land parcel in Shenzhen for 800 million yuan，Defeat Vanke after raising cards 336 times、China Shipping、Country Garden and other giants are delighted，The cost of 188bet online sports betting is huge，Displayed according to its performance report，188bet online sports betting’s operating income in 2016 was 353.500 million yuan，The profit attributable to shareholders of listed companies is only about 65.500 million yuan。

This land is located near Hongshan Metro Station in Longhua District, Shenzhen，The total construction area is 16.0.25 million square meters，equivalent to floor price 3.730,000 yuan/square meter，is the latest commercial land king in Shenzhen。188bet online sports betting stated in the announcement，This land bidding is in line with the company’s strategy，Can improve future operating performance，A step forward in promoting the strategic goal of “culture + 188bet online sports betting + urbanization”。

actually，This is the first time in recent years that its real estate company has independently acquired land in the Shenzhen open market，This land is adjacent to the Hongshan commercial land previously jointly acquired by 188bet online sports betting and China Merchants Real Estate，The joint development of the two land parcels can give full play to the synergy effect，At the same time, it can also make up for the shortage of 188bet online sports betting in Shenzhen that can quickly start development projects。

Resolutely raise your cards to get the land this time，Highlights 188bet online sports betting Group’s strategy of massive expansion，After Duan Xiannian, the former deputy mayor of Xi'an who is known as the "Father of Qujiang Model", took over as the chairman of 188bet online sports betting Group，itsProposed the “deep cultivation in Shenzhen” strategy in 2016，First-tier city properties are regarded by him as “cabbage heart” resources，Need to obtain key points。

188bet online sports betting Group was established in 1986，The idea originated from the Overseas Chinese Affairs Office of the State Council introducing overseas Chinese funds to develop Shahe Farm in Shenzhen Special Economic Zone，Thus 188bet online sports betting Group established and developed "Happy Valley"、“188bet online sports betting” tourism brand，At the same time, we create a unique “tourism + real estate” development model，The road to national replication in 2002，The entire group’s business was listed in 2009。

Early expansion，The 188bet online sports betting model is not always smooth sailing，Usually 188bet online sports betting will acquire a huge piece of land，Promoting tourism development and real estate development at the same time，But this model requires huge initial investment，Travel cannot generate benefits quickly，If funds cannot be withdrawn quickly through real estate development，Financial pressure will increase sharply，The effectiveness of national replication in the early years was mediocre。

After listing in 2009，188bet online sports betting wants to expand again with the help of capital，But encountered national macro-control，Most projects in other places are progressing slowly，The shortage of capital has become its biggest constraint，Forging the "Qujiang Model" with one hand - big financing、Big investment、Big planning、Project cluster、Full film development、Operating city、Duan Xiannian of the self-balancing development route is trying to bring breakthroughs to 188bet online sports betting。

In the latest strategy，188bet online sports betting has upgraded its “tourism + real estate” development model to “culture + tourism + urbanization”，The “188bet online sports betting + urbanization” here does not mean giving up real estate，It is no longer the previous 188bet online sports betting real estate development in the same area，Consider using off-site compensation instead，Including both in the same city and different places，Also includes inter-province、Cross-region，National Balance。

Duan Xiannian said during a survey of real estate companies at the end of last year，After the real estate industry in second and third tier cities is not doing well，188bet online sports betting’s real estate is going to Shenzhen、Shanghai、These first-tier cities in Beijing are concentrated，Concentrate towards projects with high unit output efficiency，“The excess profits from the real estate business in first-tier cities will feed back the tourism business，Support the expansion of 188bet online sports betting tourism across the country。”

“Urbanization” is the focus of 188bet online sports betting’s new round of expansion，At Shenzhen Base Camp，In addition to supporting the development of individual real estate projects，In addition to increasing resources in the open market and urban renewal business areas，188bet online sports betting has also accelerated its progress in acquiring super large projects in the past year，Won the bid of 31 billion yuan for the International Convention and Exhibition Center、Invest 30 billion yuan to develop Gankeng Town、11 square kilometers of Guangming Town、50 billion yuan to build 188bet online sports betting international low-carbon city、Baoan Binhai 188bet online sports betting and other projects have made breakthrough progress。

In the past year，188bet online sports betting also strategically entered Sichuan、Hainan、Three major tourist provinces in Yunnan，Practice the model of “culture + tourism + urbanization”。Also，Nanchang Overseas Chinese Town、Wuhan Overseas Chinese Town、Nanjing Overseas Chinese Town and other projects have officially obtained land，Entering the development stage。In terms of scale，188bet online sports betting seems to be back on the starting line of sprinting to a scale of 100 billion。

In Duan Xiannian’s opinion，No matter 188bet online sports betting Real Estate has been on par with Vanke before, it is now lagging behind，The key factor for 188bet online sports betting to leverage huge investment projects is to obtain capital support，He even hopes that 188bet online sports betting Real Estate can independently connect with the capital market，At the same time, incentive mechanisms such as project follow-up investment must also be implemented internally。For this，From the entire group level，Duan Xiannian re-establishes the importance of financing。

End of last year，188bet online sports betting Group has received credit from China Insurance Investment Co., Ltd. and China Development Bank respectively，Quotas up to 100 billion yuan and 120 billion yuan，The China Development Bank will also sort out the approximately 400 billion yuan of cooperation agreement projects that 188bet online sports betting has signed with local governments and partners，Jointly establish 188bet online sports betting’s “13th Five-Year Plan” investment and financing planning cooperation group，Develop an overall investment and financing plan。

At the signing ceremony with China Development Bank，Duan Xiannian expressed，188bet online sports betting Group will force reform and innovation through a series of measures，Promote each project company to use various financial means in every possible way，Preliminary assumptions about various project companies expected to invest hundreds of billions in the future，The registered capital investment of the group shall not exceed 5 billion yuan，In addition to providing temporary financial “bridge” support，Most of the financial requirements will be raised by the project company itself。

From "culture + tourism + urbanization"，To "tourism + Internet + finance"，188bet online sports betting ultimately hopes to build securities、Bank、Insurance、Trust and other financial systems，Extensively connect market factors and capital factors，Accelerate the integration of industry and finance。This is a good story 188bet online sports betting era of transition from industrial capital to financial capital，But it also greatly tests the management and control capabilities of Duan Xiannian and his team。

Start from this plot of land in Longhua，To Sichuan、Yunnan and Hainan，188bet online sports betting is “rolling up your sleeves and working hard”，Uncertainty about the future still exists，What we can firmly believe at the moment is，Real estate projects in Shenzhen、Several super towns、Shenzhen International Convention and Exhibition Center and the old renovation project of merger and acquisition，will form a key foundation for the sustainable development of 188bet online sports betting Group in the next 10 years。

*This article is reproduced from Interface, author Luo Qiang.