China Vanke, state-backed real estate developer, acknowledges financial strain and operational challenges, plans to stabilize operations and reduce debt.
China Vanke, a state-backed real estate developer, has acknowledged short-term financial strain and operational challenges, but states that it has a "basket of plans" to stabilise operations and reduce debt. China Vanke has the backing of both Shenzhen Metro, its state-owned largest shareholder, and the government, following disclosure of its situation. The developer has been facing liquidity concerns, leading to a decline in its bond and share prices.
April 14, 2024
13 Articles