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LI Nan, senior vice president of Longfor Group, a Chinese property developer, is to retire and will be succeeded by BAO Wei, the former GM of Southern China at property managers CRMixc Lifestyle.

Li, 56, joined Longfor in 2015 after working for Capital Commercial Real Estate Management in Shanghai, following a long career in Wuhan.

Li’s retirement marks a shift in Longfor’s commercial strategy as stable cash flow from commercial operations is crucial for the company.