Chinese developer Vanke faces a liquidity crisis, prompting Beijing's financial support directive amid a property sector crisis since mid-2021.

Chinese developer Vanke faces a liquidity crisis, with sales below monthly break-even points. In response, Beijing issued a directive for financial firms and creditors to provide support. However, Vanke's proposal for collateral has created a clamour for assets, as parties scramble to arrest deterioration in China's property sector, which has been in crisis since mid-2021.