Why CITIC Group took over Kunming Jialize. In this transfer, Zhongshengfang Group intends to transfer 4 1% equity, Yunnan Xinyi intends to transfer 39% equity, and the project name is changed to CITIC Yaoxingshui Town. CITIC Yao Xing Water Town is located in Yanglin Town, Songming County, a suburb of Kunming. It is a large-scale tourism real estate project around the main city of Kunming, with a total area of about 7,500 mu and a total planned area of over1150,000 square meters. The project formats include theme boutique hotels, golf clubs, office buildings, characteristic commercial streets, conference centers for thousands of people, fishing clubs, equestrian clubs, and comprehensive gymnasiums.