(Yicai Global) July 12 -- China Vanke Co. [SHE:000002] has not signed any cooperation agreement with Xiongan New Area, Cnstock.com quoted a media relations director at Vanke as saying today in response to rumors that China's biggest property developer will take part in the building of the new area.

Media reports earlier suggested that Vanke has inked an agreement with the "Preparation Work Committee" of Xiongan New Area, including a plan to set up a small town, 6.5 square kilometer in size, called "Xinan Town." The town will serve as an example for building innovative small towns with diverse functions and will be the first big project after the establishment of Xiongan New Area," one report suggested.

Shenzhen Metro Group Co., a state-owned company, became the largest shareholder of Vanke on July 6, lending credibility to rumors that Vanke may participate in the construction of the new area.

As a new area of national significance set by China's government this year, Xiongan New Area aims to help decentralize non-capital functions of Beijing and adjust and optimize the urban layout and spatial structure of Beijing and cities in nearby provinces. Chinese leaders and state media hailed its construction as strategy crucial for the next millennium and for the country.