Xinyuan Real Estate Co., Ltd. Announces Update on its Technology Strategy
BEIJING, February 9, 2018
Xinyuan Real Estate Co., Ltd., an NYSE-listed real estate developer and property manager operating primarily in China and also in other countries, today announced an update on its technology initiative with blockchain platform developer Ruizhuoxitou.
Mr. Yong Zhang, Xinyuan’s Chairman, stated, “Since 2016, we have invested in advanced technologies to explore their value-added applications in real estate. This includes the application of blockchain technology through a company called Ruizhuoxitou, which focuses on the R&D of blockchain technology and provides blockchain-based technological services, such as asset digitization, rights verification, and information authentication. Ruizhuoxitou is also able to build consortium blockchain based on its own intellectual property rights. At the end of last month, I introduced Ruizhuoxitou’s blockchain platform at the Tsinghua University School of Economics and Management’s blockchain technology forum.”
The Ruizhuoxitou blockchain platform has already been applied by the Shenzhen Municipal Government’s Financial Service Development Office Off-Site Supervision Alert System and the Shenzhen Qianhai Insurance Exchange Center’s Insurance Policy Authentication System. As one of the first five Chinese blockchain companies to receive the National High-Tech Enterprise certification and pass the functionality test from the Ministry of Industry and Information Technology, Ruizhuoxitou has applied for 46 invention patents related to blockchain technology with China’s State Intellectual Property Office and one under the Patent Cooperation Treaty with the World Intellectual Property Organization.
“Together with Xinyuan’s existing smart community property management capabilities, this blockchain initiative will be another supportive technology with which we can capture the market opportunities in China’s huge real estate market, and we hope to further develop the platform so that it may be applied in multiple sectors and industries,” added Mr. Zhang.
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. is an NYSE-listed real estate developer and property manager primarily in China and recently in other countries. In China, Xinyuan develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Zhengzhou, Jinan, Xi’an, and Suzhou. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York. Xinyuan aims to provide comfortable and convenient real estate related products and services to middle-class consumers.