Poly Real Estate Group Co Ltd. (SHSE:600048) entered into agreement to acquire real estate business from Aviation Industry Corporation of China on September 6, 2016. Poly Real Estate Group Co Ltd. (SHSE:600048) and Aviation Industry Corporation of China signed the framework agreement on September 12, 2016. Under the terms of the transaction Poly Real Estate Group Co Ltd. plans to acquire equity in 10 real estate project companies and one real estate project’s construction in progress held by AVIC Real Estate Co., Ltd. and its subordinate enterprise. The transaction is subject to approval from the State-owned Assets Supervision and Administration Commission of State Council. As of September 29, 2016 board of Poly Real Estate Group Co Ltd. approved the transaction.