China Vanke has issued a statement on Wednesday night, welcoming Anbang Insurance to become one of its big share-holders.
Earlier this week, Anbang raised its stake in Vanke to 7 percent by acquiring shares worth over 2.8 billion yuan.
Anbang also issued a statement reaffirming the company's desire to cooperate with Vanke.
Anbang's increase in its shareholding means it is now more difficult for the Shenzhen-based Baoneng Group to grasp enough shares for controlling Vanke.
Earlier on Wednesday, during a visit to Credit Suisse in Hong Kong, Vanke chairman Wang Shi said the company will not take any "poison pill" to fend off a potential takeover from Baoneng.
Wang Shi said Baoneng is likely to join the board in the near future, given its large shareholding.
Wang added that Vanke would like to know Baoneng's demands and it wants to avoid any conflict between the two, or with China Resources Group, Vanke's second largest shareholder.
In addition, the Chinese Securities Regulatory Commission said that it will not interfere in the share trading of Vanke, as long as those acquisitions abide by laws and rules.
