View of the Nanjing Xinjiekou Financial and Commercial Business Cluster in smog with the Nanjing IFC (International Finance Center), center, and other skyscrapers and high-rise buildings in Nanjing city, east Chinas Jiangsu province, 5 January 2014. Hong Kong tycoon Li Ka-shing announced on December 31 that he is selling the International Finance Center, his only property in the eastern Chinese city of Nanjing. Li prompted speculation last year on whether he was cashing out of Hong Kong and Chinese Mainland after he sold more than 12 billion yuan (US$2 billion) worth of properties in China, reports the Guangdong-based Yangcheng Evening News. ARA Asset Management Limited, a subsidiary of Li Ka-shings Cheung Kong Holdings in Singapore, is selling the property that is located in Nanjings central business district Xinjiekou. The center, which has been valued at 3 billion yuan (US$495 million), has an area of 109, 000 square meters and is the tallest building in the area at 220 meters since it was completed in May 2009.
