China Jinmao, formerly Franshion Properties, is a mid-cap real estate developer in China that listed on the Hong Kong stock exchange in 2007. The company is the real estate division of Sinochem, a large central government-controlled SOE. The company focuses on development of premium residential projects and high-quality commercial assets in upper-tier cities. It also engages in a unique city operation model, in which it participates in primary land development projects. Sinochem is the controlling shareholder. Under the mixed ownership reform initiative, China Jinmao brought on Ping An as a long-term financial investor as the second largest shareholder.