Wang Jianlin built Dalian Wanda Commercial Properties Co into China's most powerful real estate firm with a mix of savvy political instincts and army-bred discipline, carefully navigating the country's government-led business environment. "Remain close to government, and away from politics," Wang, 60, and now a billionaire, told Reuters this month. "It means deal more with the authorities," he said, referring to the Communist Party and the government, "And less with individuals."In 1988, Wang left the army and borrowed 1 million yuan ($161,000) to start a real estate company in Dalian, northeast China. He attracted global firms such as Wal-Mart Stores Inc and Macquarie Group as partners.Now the company that pioneered mixed-use commercial developments in China is making its market debut on Tuesday in Hong Kong's biggest stock listing since 2010, raising $3.7 billion in the process."Wang has found this golden path of how to collaborate with the government and do things they want him to do," said Raffi Amit, a professor of entrepreneurship and management at the University of Pennsylvania's Wharton School. "His business model recognises that the government is an important external stakeholder."
Wal-Mart Stores, Inc. (Walmart) operates retail and other stores in various formats, including membership clubs. Shares of WMT traded higher by 1.43% or $1.22/share to $86.38. In the past year, the shares have traded as low as $72.27 and as high as $88.09. On average, 7610800 shares of WMT exchange hands on a given day and today's volume is recorded at 3645682.
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