Is New World China Real Estate related to Hong Kong New World Development Co., Ltd?

New World China Real Estate Co., Ltd. is a large-scale national real estate developer developed in the Mainland by Hong Kong-funded New World Development Co., Ltd., with total assets exceeding HK$ 369.2 billion. With its top strength, New World China Real Estate has participated in more than 50 development and investment projects nationwide. It should be regarded as a superior-subordinate relationship ~