Partnerships are often lauded to be highly beneficial by both the parties involved and in media streams. However, upon further analysis, the facts of the situation might actually paint a different picture. Case in point – Ying Li International Real Estate and China Everbright Limited. Ying Li Real Estate is one of the biggest property developer in Chongqing, China. China Everbright on the other hand, is a subsidiary of the state-owned China Everbright Corp. Ying Li’s 2014 annual report wrote: The partnership marked a significant milestone for the Group and paves the way for more growth opportunities. This partnership with CEL has brought great benefits to the Group. Our balance sheet has improved significantly. The Group’s net debt to equity ratio has been lowered to 43% for FY2014 compared to 60% in FY2013, and its total debt to total asset ratio was lowered to 33%. As we move forward in ......